Lockheed Martin Rises Over 3% on $13.7B F-35 Readiness Funding Plan

According to Bloomberg, citing a U.S. Government Accountability Office (GAO) report, Lockheed Martin (LMT) shares rose over 3% to $542.35 as the Pentagon outlined a need for $13.7 billion in additional investment to improve F-35 fighter jet readiness.

The U.S. Air Force, Navy, and Marine Corps require the funding through 2031 to address declining operational readiness of the F-35, according to Pentagon officials briefing congressional auditors.