Greece Agrees to $4B US Arms Deal Including F-16 Upgrades and Missiles
LMT sits 15% above its 52-week low of $437.25 on light trading volume (0.1× avg).
Summary
Greece has agreed to spend up to $4 billion on upgrading more F-16 fighter jets and buying advanced missiles from the US, according to Reuters sources. The deal includes new missiles and bombs for F-16 Vipers, F-35s, and Black Hawk helicopters, plus upgrading older F-16s to Viper configuration. Greece is already upgrading 82 F-16s and wants to upgrade 37 more Block 50s at a cost of about $1 billion. Most procurements are already in Greece's multi-year defense plan, so no additional financial pressure is expected. This follows Lockheed's strong Q2 and a series of large US and international contracts, reinforcing demand for its fighter and missile systems.
At the time of this announcement, LMT was trading at $504.01 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $116.3B. The 52-week trading range was $437.25 to $692.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.