Lockheed Martin up after a strong Q1
Lockheed Martin Corp. advanced after reporting a 15 percent first-quarter increase in per-share earnings.
Lockheed, the nation's largest weapons producer, closed on Friday at $98.97, up 2.5 percent for the week. The company's stock value has risen 6 percent since the start of the year.
Lockheed, which makes fighter jets, missiles and warships, reported first-quarter net profit rose to $761 million, or $2.33 a share, from $668 million in the year-earlier period.
Analysts projected earnings of $2.04 per share.
Cash from operations during the quarter totaled $2.1 billion, far ahead of $458 million for the same 2012 span.
Sales during the quarter, though, dropped 2 percent to $11.1 billion, and Lockheed attributed the dip to fewer deliveries of F-16 fighter jets and C-130 transport planes.
The company, which is based in Bethesda, Md., employs about 425 people in Archbald who make laser-directed steering equipment for bombs and training munitions, along with specialized instrumentation and control systems.