US Strikes Iran Again, Defense Stocks Slide as Oil Spikes
LMT sits 25% above its 52-week low of $437.25.
Summary
US military strikes on Iranian targets near the Strait of Hormuz sent oil prices surging and defense stocks lower. Brent crude jumped to $95.01 and WTI above $90, while Lockheed Martin fell 3.26% and RTX dropped 1.42%. The escalation follows attacks on two oil tankers in the strait and comes amid heightened tensions. For defense contractors, the selloff reflects profit-taking and the reality that further escalation may not immediately boost orders beyond already-record backlogs. Watch for Iran's response and any impact on oil supply routes.
At the time of this announcement, LMT was trading at $545.04 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $125.7B. The 52-week trading range was $437.25 to $692.00. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.