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Lockheed Shares Sink on Bearish Sales Outlook for Next Year

F-35 Lightning II fighter jets, manufactured by Lockheed Martin Corp.

F-35 Lightning II fighter jets, manufactured by Lockheed Martin Corp.

Photographer: SeongJoon Cho/Bloomberg
Updated on

Lockheed Martin Corp.’s shares are plunging in morning trading on its bearish outlook for next year. The stock is down 11.7% to $332.30 at 11:43 a.m. in New York.

Lockheed expects sales to fall in 2022, as it provides the first glimpse into how pared F-35 production may affect results.