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Lockheed Martin Just Gave Investors Something New to Worry About
Wall Street hates surprises, especially unexpected changes in the C-suite just days before earnings are released.On Thursday, Lockheed Martin (NYSE: LMT) delivered just that surprise and the stock reacted accordingly. Shares of Lockheed plunged 6% at the open before recovering as the day went on, down 2% as of 1:30 p.m. ET.Before markets opened, Lockheed said that CFO Jay Malave had advised the company he is "pursing other opportunities," and announced Evan Scott as Malave's replacement. Scott has been with Lockheed for 26 years, including serving as the company's treasurer and CFO of two of its business units.Continue reading
Wall Street hates surprises, especially unexpected changes in the C-suite just days before earnings are released.
On Thursday, Lockheed Martin (NYSE: LMT) delivered just that surprise and the stock reacted accordingly. Shares of Lockheed plunged 6% at the open before recovering as the day went on, down 2% as of 1:30 p.m. ET.
Before markets opened, Lockheed said that CFO Jay Malave had advised the company he is "pursing other opportunities," and announced Evan Scott as Malave's replacement. Scott has been with Lockheed for 26 years, including serving as the company's treasurer and CFO of two of its business units.
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