Why Lockheed Martin Stock Popped, Then Dropped Today
Cancellation of the Orion program could cost Lockheed Martin stock billions.
Lockheed Martin (NYSE: LMT) is riding the market roller coaster on Friday.
In early trading, shares of the defense giant jumped nearly 3% on a Wells Fargo report calling the new fiscal year 2026 defense budget a "big win for defense stocks."
No sooner had that report come out, though, than Bloomberg broke bad news for Lockheed: The Trump administration plans to end Space Launch System launches and terminate production of Orion space capsules (carried by SLS on NASA's Project Artemis moon missions) after just three launches.
