Lockheed Martin’s shares came to retreat 7% after the United States Department of Defense cuts the orders of F-35 aircraft.
Lockheed Martin (LM)one of the main military and aerospace industry of the United States, fell to 7% on Wall Street after The Pentagon will request half of the F-35 aircraft which had initially predicted for the Air Force. He involved a call for investors who follow the CEDEARS closest since the tenure certificates of this company are operated through the Buenos Aires Stock Exchange.
The company’s shares passed from US $ 477 at US $ 443 In a matter of hours during the day on Wednesday, although they then finished 4.3% below the previous closing price.
The decline was promoted by a document sent to the Congress that indicated that the United States Department of Defense was requesting “only” 24 of the most popular hunting aircraft of Lockheed Martin, the F-35 Lightning II Joint Strike Fightersfor the Air Force. Previously, The government forecast was 48 units.
According to the information seen by Bloomberg, 12 aircraft for the Navy and 11 for Marines’ body were also proposedcompared to 17 and 13 prosticated aircraft before, respectively.
The causes of collapse
These orders are extremely important because The United States is the largest client in the corporation. In fact, Donald Trump’s government plans Acquire 2,456 aircraft over several decades. And of the total, the Air Force would receive 1,763 units.
According to LM, The F-35 that are being delivered were tested in combat and offer the “most advanced capacity and technology.”
Despite the news, The market maintains optimism about the American manufacturer Because the Congress is considering the possibility of modifying the reduced application of F-35 fighters, while the allocation of defense funds for fiscal year 2025, which ends on September 30.
In fact, legislators showed willingness to finance the advanced poaching beyond the requests of the Pentagon. And last year, when the Air Force requested 48 F-35 to Congress, it obtained financing for 51 aircraft instead.
Source: Ambito
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