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Thursday, July 10, 2014

Lockheed says F-35 investments will save $1.8 billion by 2019, (NYSE: LMT)

Industry investment of $170 million over the next two years is expected to result in savings of $1.8 billion on the F-35 Joint Strike Fighter program, Lockheed Martin Corp's F-35 program manager Lorraine Martin told reporters on Thursday. Martin said the savings would cut the cost of each F-35 fighter jet by about $10 million to about $80 million, including an engine.

Lockheed Martin Corporation is a global security and aerospace company principally engaged in the research, design, development, manufacture, integration, and sustainment of technology systems and products. Shares of LMT traded higher by 0.46% or $0.72/share to $157.93. In the past year, the shares have traded as low as $109.48 and as high as $168.87. On average, 1235420 shares of LMT exchange hands on a given day and today's volume is recorded at 828240.