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Why Lockheed Martin Stock Popped, Then Dropped Today

TheMotleyFool

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Why Lockheed Martin Stock Popped, Then Dropped Today: https://g.foolcdn.com/editorial/images/816982/orion-december-liftoff-2018_05_10-12_39_51-utc.jpg

Lockheed Martin (NYSE: LMT) is riding the market roller coaster on Friday.

In early trading, shares of the defense giant jumped nearly 3% on a Wells Fargo report calling the new fiscal year 2026 defense budget a "big win for defense stocks."

No sooner had that report come out, though, than Bloomberg broke bad news for Lockheed: The Trump administration plans to end Space Launch System launches and terminate production of Orion space capsules (carried by SLS on NASA's Project Artemis moon missions) after just three launches.

Source Fool.com