Lockheed-Martin plummeting as Congress set to request 35% fewer F-35’s

Down 6.5% this morning

March 16 (Reuters) – The Pentagon will request 61 F-35 stealth warplanes from Lockheed Martin Corp (LMT.N) in its next budget, 33 fewer than previously planned, Bloomberg News reported on Wednesday, citing people familiar with the matter.

“The Department cannot confirm specific budget details until after the FY23 President's Budget is released,” a Pentagon spokesperson told Reuters.

Shares of weapons maker Lockheed Martin, which counts the U.S. government as its biggest customer, were down 3.4% in early trading.

https://www.reuters.com/business/aerospace-defense/pentagon-cuts-request-lockheeds-f-35s-by-35-bloomberg-news-2022-03-16/