Biden Sends Lockheed Martin (LMT) Stock Falling With Slashed F-35 Order

Lockheed Martin (NYSE:LMT) stock closed almost 2% in the red today on insider info that President Joe Biden will order fewer F-35 fighter jets in the upcoming federal budget. According to people familiar with the matter, Biden is expected to order around 70 F-35s from Lockheed for fiscal 2025, down from 83 expected planes. The recent cut in F-35s is predicted to account for a roughly 2% decline in the company’s sales guidance this year.This marks a now-repeated trend of slowing F-35 orders from the United S ...