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Lockheed CEO: 'Personally committed' to lowering F-35 cost

Published 12/23/2016, 06:12 PM
Lockheed CEO: 'Personally committed' to lowering F-35 cost
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  • Following up on yesterday evening's Trump tweet that pushed Lockheed Martin (NYSE:LMT) lower -- the president-elect complained of cost overruns on the company's F-35 -- Lockheed chief Marillyn Hewson reports "personally" committing to lower the cost.
  • "I had a very good conversation with President-elect Trump this afternoon," she says in a statement, "and assured him that I've heard his message loud and clear about reducing the cost of the F-35.
  • "I gave him my personal commitment to drive the cost down aggressively. I know that President-elect Trump wants the very best capability for our military at the lowest cost for taxpayers, and we're ready to deliver!"
  • Shares fell 1.3% today, slightly better than their after-hours drop Thursday. Meanwhile, Boeing (NYSE:BA), which Trump said he would approach for a bid on a comparable F-18 Super Hornet, closed the holiday week out up 0.2%, just 1.4% below its 52-week high.


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