Earnings:
Lockheed Martin reported higher first-quarter profit on Tuesday and reaffirmed its guidance for the year on robust demand for its missile systems and fighter jets.
Defense companies have benefited from rising demand for weapons amid the Russia-Ukraine war and conflicts in the Middle East.
It is expected that long-established companies in this sector will also receive a potential boost from US President Donald Trump's move to relax export regulations for military equipment.
Lockheed's aerospace division, which manufactures the F-35 fighter jet, reported a 3.1 percent increase in sales in the first quarter.
The F-35 program was hurt by delays in the rollout of a technology upgrade that will give the jet better displays and processing capabilities for its electronic systems.
Lockheed reported total sales of $17.96 billion for the first quarter, up 4.5 percent from a year earlier. Sales increased in all of the company's divisions this quarter, with the exception of its aerospace division.
The company's net income for the quarter rose to 1.71 billion dollars, or 7.28 dollars per share, compared to 1.55 billion dollars, or 6.39 dollars per share, a year earlier.
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