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FX.co ★ Lockheed Martin Shares Drop 7% As Q4 Sales Miss View

Lockheed Martin Shares Drop 7% As Q4 Sales Miss View

Lockheed Martin Corporation (NYSE: LMT) experienced a notable decrease in its share value, plunging by 7.93% during Tuesday afternoon's trading session. This decline followed the release of its fourth-quarter earnings report.

Currently, Lockheed Martin's shares are priced at $465.58, marking a 7.57% decline, equivalent to a drop of $38.11 on the New York Stock Exchange. In premarket trading earlier that day, the company observed a more than 3% decrease in share value, extending the downward momentum from the previous day.

Throughout the trading day, Lockheed Martin's stock fluctuated between $459.09 and $479.73. Over the past twelve months, the stock has ranged from $413.92 to $618.95. The trading volume surged to 2.11 million shares, significantly surpassing the average of 1.23 million, indicating an increase in investor activity amidst the stock's downturn.

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Even though Lockheed Martin surpassed earnings expectations with a reported earnings per share of $7.67 for the fourth quarter—surpassing analyst predictions of $6.58—the company's quarterly revenue of $18.6 billion slightly missed the expected $18.84 billion mark.

Adding to investor concerns, Lockheed Martin's profit forecast for the fiscal year 2025 fell short of market anticipations, contributing to a further erosion of investor confidence.

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