Mike Stone

2 days ago | in.marketscreener.com | Mike Stone |Utkarsh Shetti

WASHINGTON (Reuters) -Major U.S. defense contractors are mostly maintaining their financial forecasts for 2025, saying it is too soon to understand the impact of U.S. President Donald Trump's tariffs. Lockheed Martin, the largest defense firm, reaffirmed its forecasts for the year on Tuesday, buoyed by resilient demand for its missile systems and fighter jets.

2 days ago | gazette.com | Utkarsh Shetti |Mike Stone

By Utkarsh Shetti and Mike Stone(Reuters) -Northrop Grumman cut its annual profit forecast after it posted a 49% slump in first-quarter earnings on Tuesday, as it booked losses on its B-21 stealth bomber program due to higher costs, sending its shares down 12%. The company also missed Street estimates for quarterly sales but reaffirmed its sales forecast for the year, even amid growing concerns of uncertainty in the wake of U.S. President Donald Trump's tariffs.

2 days ago | marketscreener.com | Utkarsh Shetti |Mike Stone

(Reuters) -RTX on Tuesday cautioned that U.S. President Donald Trump's tariffs could chip away $850 million from its 2025 profits, sending its shares down 8.5%, even as it beat expectations for quarterly results and reaffirmed its full-year forecasts. It arrived at the figure on assumptions that customers do not change buying habits, Canada, Mexico, steel and aluminum tariffs remain at 25%, China tariffs remain at 145% and global reciprocal tariffs remain at 10%.

2 days ago | gazette.com | Utkarsh Shetti |Mike Stone

By Utkarsh Shetti, Mike Stone(Reuters) -Lockheed Martin reported a higher first-quarter profit on Tuesday and reaffirmed its forecasts for the year on the back of resilient demand for its missile systems and fighter jets. Shares of Lockheed were up 3% in pre-market trading on Tuesday as the company posted earnings per share of $7.28 beating Wall Street analyst expectations of $6.34. U.S. President Donald Trump's trade war has rattled markets and upset some allies.

2 days ago | gazette.com | Utkarsh Shetti |Mike Stone

By Utkarsh Shetti and Mike Stone(Reuters) -RTX reported a better than expected first-quarter profit and reaffirmed its annual outlook on Tuesday after strong demand for jet repair and maintenance services helped to offset weaker sales in the company's defense unit. Despite reaffirming 2025 guidance, RTX shares sank 4% in pre-market trading after the company said tariffs could hurt profit by about $850 million over the year.