Lockheed Martin, RTX Hike Outlooks; Northrop Cuts Sales Forecast

Group 1 - Lockheed Martin and RTX raised their earnings forecasts for the year, exceeding market expectations, while Northrop Grumman reported mixed results and lowered its sales guidance [1] - Defense stocks experienced pressure following comments from Treasury Secretary Scott Bessent regarding potential limitations on share buybacks for defense contractors [1] - L3 Harris secured a significant contract, indicating positive momentum within the defense sector as major companies prepare to report earnings [2] Group 2 - Boeing signed a $3 billion deal for Patriot missile technology, contributing to stock consolidation in the defense sector [4] - Rare earth stocks surged as China targets defense exports, reflecting increased demand and geopolitical tensions [4] - SpaceX emerged as a major beneficiary as the Space Force awarded $1 billion in launch contracts, highlighting the competitive landscape in defense contracting [4]