Lockheed Martin reports rare profit miss as pandemic hits F-35 deliveries
Written by Reuters -
64
The logo of Lockheed Martin is seen at Euronaval, the world naval defence exhibition in Le Bourget near Paris, France, 23 October 2018. - Reuters
Lockheed Martin Corp on Tuesday missed profit estimates for the first time in the last eight quarters as the COVID-19 pandemic disrupted deliveries of the US weapons maker’s F-35 jets and caused supplier delays.
Shares of the company were down about 2.3% after it said fourth-quarter deliveries of its F-35 jets fell to 42 from 51 a year earlier.
Progressive Democrats in Congress have called for cuts in military spending amid the global health crisis, although analysts have said sudden changes are unlikely in an industry that has supported countless jobs during the recession.
Democrats to Biden: Go big on executive actions, even with Senate control politico.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from politico.com Daily Mail and Mail on Sunday newspapers.
Tom Williams/CQ-Roll Call, Inc via Getty Images
Progressive Democrats in Congress are calling for President-elect Joe Biden to dismantle the federal government’s deportation machine, broaden immigrants’ access to social safety net programs,
and rely far less on detention to ensure that immigrants show up for court hearings.
During the Democratic primaries, progressive candidates pushed not just to undo some of President Donald Trump’s more draconian changes to the immigration system, but to rethink a system that had, with bipartisan consensus, “criminalize[d] desperation” of immigrants seeking a better life in the US, as former presidential candidate Julián Castro put it.