“I’m very much involved with the generals and admirals on the airplane, the F-35,” Trump said. “It’s way, way behind schedule and many, many billions of dollars over budget. I don’t like that. … We’re going to do some big things on the F-35 program and perhaps the F-18 program. We’re going to get those costs way down.”
Lockheed Martin shares dropped 2 percent on Dec. 12when the president-elect first put the company in his crosshairs over F-35 costs with this tweet:
On Dec. 21, Trump met with the CEO of Lockheed, Marillyn Hewson, at his Mar-a-Lago resort in Florida, along with the CEO of Boeing, a company he criticized in December as well for the cost of the 747 Air Force One program.
After that meeting, Hewson said she “appreciated the opportunity to discuss the importance of the F-35 program and the progress we’ve made in bringing the costs down.”
But apparently Trump wasn’t satisfied by what he heard from Hewson, tweeting the next day that he was asking Boeing to price out an alternative to the F-35, knocking the company’s stock again.
Through all that, Lockheed Martin’s shares rebounded again in the new year and had nearly wiped out all the decline that resulted after Trump’s first negative tweet, until Wednesday.
A Lockheed spokesperson declined to comment.
Lockheed Martin shares fall after Trump targets F-35 program’s cost again during news conference have 302 words, post on www.cnbc.com at 2017-01-11 05:17:02. This is cached page on WBNews. If you want remove this page, please contact us.