Lockheed Martin becomes the latest victim to be scolded by President-elect Trump on Twitter. Trump criticized the company for “out of control” costs, causing its shares to fall 2.47 percent. Join more than 7,000 voices in Sentifi financial crowd to discuss the prospects of the unfortunate military jet manufacturer.
Lockheed Martin: Loses $4 billion in stock value thanks to Donald Trump
The F-35 program and cost is out of control. Billions of dollars can and will be saved on military (and other) purchases after January 20th.
— Donald J. Trump (@realDonaldTrump) December 12, 2016
That single tweet effectively wiped out $4 billion from the company’s value, averaging out to about $28.6 million per character. The Lockheed-Martin F-35 jet fighter is the most expensive military hardware program in the history, with each jet costing $100 million. The production of the jets is expected to quadruple during Trump’s administration. The company has defended the program in the past, citing that it has created more than 146,000 direct and indirect U.S. jobs.
SoftBank Tech Corp.: Apple plans to invest in SoftBank Technology Fund
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CBS Corporation: Merger talks with Viacom Inc. collapse
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Ophthotech Corp.: Shares collapse following disappointing drug test results
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