Here's Why Lockheed Martin Stock Flew Lower Today
Shares in defense contractor Lockheed Martin (NYSE: LMT) declined by as much as 6% in early morning trading Thursday on the news that chief financial officer (CFO) Jay Malave was departing the company to pursue other opportunities. Malave has held the title of CFO at two businesses that were part of the former United Technologies (UTC Carrier and UTC Aerospace Systems), the defense company L3Harris Technologies, and, since 2022, Lockheed Martin. So it's hard to think of a more significant opportunity than Lockheed Martin, with a market cap around $110 billion. Moreover, the timing of the departure, just a few days before the defense contractor releases its first-quarter earnings report on April 22, raises questions.Continue reading
Shares in defense contractor Lockheed Martin (NYSE: LMT) declined by as much as 6% in early morning trading Thursday on the news that chief financial officer (CFO) Jay Malave was departing the company to pursue other opportunities.
Malave has held the title of CFO at two businesses that were part of the former United Technologies (UTC Carrier and UTC Aerospace Systems), the defense company L3Harris Technologies, and, since 2022, Lockheed Martin. So it's hard to think of a more significant opportunity than Lockheed Martin, with a market cap around $110 billion.
Moreover, the timing of the departure, just a few days before the defense contractor releases its first-quarter earnings report on April 22, raises questions.