Lockheed Tumbles as Sales Fall Short of Analyst Estimates
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Lockheed Martin Corp., the largest U.S. government contractor, declined the most in almost two years after its third-quarter sales fell short of analysts’ estimates and margins declined in the unit that includes its F-35 fighter jet.
The Bethesda, Maryland-based company fell 4.2 percent to $168.12 at 10:46 a.m. in New York, after dropping as much as 5.3 percent for its steepest intraday decline since Nov. 7, 2012.