Reported about 5 hours ago
As the fiscal year 2024 concluded, the Pentagon rapidly awarded contracts totaling $12 billion to major defense contractors Boeing, Lockheed Martin, and RTX. Boeing secured a $6.9 billion order for small diameter bombs for the Air Force; Lockheed Martin received nearly $3.6 billion for missiles, including JASSM and LRASM; and RTX was awarded $1.5 billion for various missile contracts. This spending surge reflects the Pentagon's desire to utilize its annual budget fully to avoid future cuts, with analysts suggesting that Lockheed Martin and RTX may offer better returns for investors than Boeing due to their consistently profitable defense operations.
Source: YAHOO