Lockheed Martin has turned out to be a rarity in the pandemic era of 2020. The defense giant’s earnings and sales were higher than Wall Street expected, and management raised its estimates for full-year profits. Lockheed earned $5.79 a share from $16.2 billion in sales. Analysts were looking for $5.72 a share from $15.2 billion in sales. Shares are moving on the news, up about 3.7% in premarket trading. Still, Lockheed shares were down about 6% year to date as of Monday’s closing price, trailing behind the Nasdaq Composite and S&P 500. The Dow Jones Industrial Average was down about 7% year to date. The virus continues to affect every sector, even defense.
— source barrons.com | Jul 21, 2020