Pentagon Lifts Lockheed Deal

Benzinga

The Pentagon boosted a Lockheed Martin C-130J contract to $25B and awarded Boeing a $2B deal for the B-52 engine replacement program, highlighting renewed U.S. defense spending momentum.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02The Pentagon raised the value of a Lockheed Martin Corp contract on Tuesday

00:06and awarded a new contract to Boeing, according to Benzinga.

00:10The Lockheed Martin deal for the development, engineering, and delivery of C-130J aircraft

00:16increased from $15 billion to $25 billion. The contract includes sales to Egypt, Australia,

00:23New Zealand, France, the Philippines, Norway, and Germany.

00:27Boeing secured a $2 billion contract for the B-52 commercial engine replacement program.

00:33The announcements follow recent aerospace and defense activity.

00:37In October, Lockheed Martin CEO Jim Tayklip said the company was positioned to support

00:41Trump's Golden Dome for America initiative. Boeing has also advanced defense work,

00:47including new contract wins and a digital communication system trial.

00:51Trump also announced a Pentagon budget shift and criticized defense contractors over

00:55executive pay and stock buybacks.

00:57For all things money, visit Benzinga.com.

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