However, Constellation’s results beat Wall Street’s expectations. Adjusted earnings came in at $3.06 a share, while analysts expected $2.63 a share, according to FactSet. JPMorgan Chase is taking over the Apple credit-card program from Goldman Sachs.

Shares in defense contractors such as Lockheed Martin and Northrop Grumman slumped Wednesday after President Donald Trump pledged to block the companies’ dividends, stock buybacks and what he described as “Over Compensation of Executives” until the sector speeds up its production and maintenance of military equipment.

In a pivotal seven-year deal, the Department of War partnered with Lockheed Martin to triple PAC-3 missile interceptor production.

Defense stocks including Lockheed Martin, Northrop Grumman and General Dynamics fell Wednesday afternoon after reports that President Trump is set to sign an executive order that will punish defense companies that repurchase stocks,

Lockheed (LMT) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

The defense contractor said it plans to increase annual production of advanced Patriot missile interceptors from 600 to 2,000.

The deal comes as the Defense Department seeks to overhaul its acquisition apparatus to prioritize speed and as top officials have promised industry steady demand signals — and bigger awards — if companies make deeper investments into developing new products and expanding infrastructure.

Lockheed Martin has delivered 191 F-35 Lightning II aircraft in 2025, breaking its previous record of 142 jets in a single year.

Lockheed Martin said on Wednesday it delivered 191 F-35 fighter jets in 2025 to the United States and its allies, a record for the program.

Priced at $4.2 million per unit currently, PAC-3 MSE is a $2.5 billion franchise for Lockheed Martin at present. Although it seems implied that the increased production rates will yield lower prices for the customer, if one were to triple the production rate and hold the price constant, for example, that would grow to $8.4 billion annually.