Lockheed (LMT) F-35 Program Won't Come Under Knife in FY14
Tweet
Share
E-mailGet Alerts LMT Hot Sheet
Join SI Premium – FREE
It appears that Lockheed Martin's (NYSE: LMT) F-35 program is safe after all.
Reports out Wednesday have the Pentagon aiming to spend about $8.4 billion in fiscal 2014 to continue development of the project, with all 29 F-35 aircraft still planning to be purchased. The next fiscal year starts October 1, 2013.
The request came from President Obama's $526.6 billion defense proposal.
Currently, its planned that the Pentagon will get $99.3 billion for procurement and $67.5 billion for R&D, though those numbers could be changed via Congressional committees.
The F-35 program has been hit with a smattering of delays. Bloomberg reported today that Rolls-Royce is about 160 days behind on F-35 part deliveries.
Shares of Lockheed are up 0.6 percent.
Reports out Wednesday have the Pentagon aiming to spend about $8.4 billion in fiscal 2014 to continue development of the project, with all 29 F-35 aircraft still planning to be purchased. The next fiscal year starts October 1, 2013.
The request came from President Obama's $526.6 billion defense proposal.
Currently, its planned that the Pentagon will get $99.3 billion for procurement and $67.5 billion for R&D, though those numbers could be changed via Congressional committees.
The F-35 program has been hit with a smattering of delays. Bloomberg reported today that Rolls-Royce is about 160 days behind on F-35 part deliveries.
Shares of Lockheed are up 0.6 percent.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Trump: building a White House heliport donated by Sikorsky
- Boeing-Lockheed’s ULA triples bond sale to $1.5 billion - report
- Critical-Minerals Supply Chains Need More Than Mines. Greenland Mines Is Pursuing a North Atlantic Corridor Strategy
Create E-mail Alert Related Categories
Insiders' BlogRelated Entities
Barack ObamaSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
