Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Defense firms see shares rise after Pentagon budget plan is detailed
http://www.latimes.com/business/money/la-fi-mo-pentagon-cuts-contractors-20140224,0,7050364.storyDefense firms see shares rise after Pentagon budget plan is detailed
By W.J. Hennigan
February 24, 2014, 6:26 p.m.
Major U.S. weapon makers watched their shares tick upward in trading Monday after the announcement of the Pentagon’s budget plan.
Defense Secretary Chuck Hagel outlined details on the fiscal 2015 budget request, which shielded large, big-ticket programs and slashed older weapon systems.
Largely untouched by the budget plan is the F-35 Joint Strike Fighter made by Lockheed Martin Corp. The nearly $400-billion program to buy 2,400 of the jets has been under development for more than a decade.
Lockheed shares, which hit an all-time high at one point during trading, closed up $1.81, or 1.1%, at $166.14.
