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Lockheed Martin Corp. (LMT) develops, manufactures, and sells advanced technology products in the areas of aeronautics, defense, energy, telecommunications, and more. The company was formed in 1995 through the merger of defense contractors Lockheed Corp. and Martin Marietta Corp. Since this merger, Lockheed Martin has dramatically strengthened its position as one of the primary contractors of the U.S. Department of Defense (DoD) and other U.S. federal government agencies.
Lockheed Martin, a major military contractor for both U.S. and foreign governments, maintains over 350 facilities worldwide and 122,000 employees. In 2023, Lockheed Martin reported $6.9 billion in net earnings on $67.57 billion in sales.
As of October 2024, the company has a market capitalization of $144.26 billion. Lockheed Martin organizes its business into the following broad areas: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
Lockheed Martin has executed a number of major mergers and acquisitions throughout its history. These deals have allowed the company to dramatically expand its product offerings and market share globally.
Below, we look in detail at three of Lockheed Martin’s most important acquisitions. The company does not provide a breakdown of how much profit or revenue each acquisition currently contributes.
The first deal on our list created the company now known as Lockheed Martin. In 1995, Lockheed Corp. and Martin Marietta Corp. merged to form a new, giant manufacturer of military hardware and services. The deal merged the second- and third-largest U.S. defense contractors into the world’s largest defense contractor, with annual sales of roughly $23 billion and 170,000 employees.
The merger created a company capable of serving every need of the U.S. armed services, except for tanks and submarines. The merger was seen as crucial to the long-term survival of both companies. The end of the Cold War had cut government demand for military hardware industry-wide by more than 50% during the 1990s.
About a year after the merger of Lockheed Corp. and Martin Marietta Corp., the newly created Lockheed Martin acquired the majority of military electronics company Loral Corp for $9.1 billion. As part of the deal, Lockheed Martin bought Loral’s main military electronics business. Loral’s remaining businesses were spun off as Loral Space & Communications.
As with the merger of Lockheed and Martin Marietta, this deal was spurred by the end of the Cold War, when many defense companies were consolidating. The Federal Trade Commission determined that Lockheed Martin’s acquisition of Loral constituted a violation of antitrust laws, and the company settled. Under the settlement, the company agreed to divest its systems engineering and technical services contract with the Federal Aviation Administration and to limit its activities in other key business areas.
One of Lockheed Martin’s recent acquisitions is helicopter manufacturer Sikorsky Aircraft. Sikorsky was founded as Sikorsky Manufacturing Corp. in 1925 by Igor Sikorsky, the legendary aviation pioneer known for developing the helicopter and other aircraft. Prior to Lockheed Martin’s acquisition, Sikorsky was owned by United Technologies Corp.
The acquisition was among Lockheed Martin’s largest, and it represented a strategic expansion into rotary-wing aircraft manufacturing for military and commercial customers. In particular, the deal diversified Lockheed’s military aircraft offerings and provided the company with a 65% share of the U.S. military rotary-wing aircraft business, including manufacture of the Black Hawk helicopter. As part of the acquisition, Sikorsky Aircraft was rebranded as Sikorsky, a Lockheed Martin Company.
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A lawyer has said you don’t need an NYSC certificate to become a minister in Nigeria, in reaction to a recent interview with the Minister of Creative Economy, Hannatu Musawa.
He added that all you need is to be qualified to contest an election into the House of Representatives and to do this, you need just secondary school certificate.
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Helen of Troy (HELE) shares soared Wednesday after the maker of consumer products posted better-than-anticipated results on demand for its insulated beverageware.
The OXO parent reported fiscal 2025 second-quarter adjusted earnings per share (EPS) of $1.21, with revenue falling 3.5% year-over-year to $474.2 million. Both exceeded consensus forecasts of analysts polled by Visible Alpha.
Home & Outdoor unit revenue rose 0.8% to $241.9 million on higher sales of insulated beverageware and expanded retailer distribution, especially in the international market. Sales at its Beauty & Wellness division dropped 7.7% to $232.3 million, "due to lower sales of hair appliances, air purifiers, and humidifiers."
Chief Executive Officer (CEO) Noel Geoffroy said that "despite persistent macro headwinds, we achieved early results on our efforts to 'Reset and Revitalize' our business, driven by improved brand fundamentals, optimized marketing and innovation, and expanded distribution."
Shares of Helen of Troy hit their lowest level in a decade in August, a month after it missed sales and profit estimates for the first quarter, and slashed its guidance. Even with today's nearly 20% gains, they're still down nearly 40% year-to-date.
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Instablog9ja
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The Nigerian National Petroleum Company (NNPC) Limited has increased the price of premium motor spirit (PMS), also known as petrol, across its retail outlets.
TheCable observed that the price of the product increased to N998 per litre in Lagos on Wednesday. NNPC increased the pump price from N855 per litre set in September.
At the NNPC retail outlets located at Ago Palace Way, Okota, and Second Rainbow at Apapa Expressway, the price of PMS was fixed at N998 per litre. In Abuja, at Wuse Zone 4, an NNPC retail station sold the product at N1,003 per litre. Also, private filling stations have started adjusting their prices, with the Mobil filling station at College road, Ogba, adjusting its pump price to that of NNPC. The price development comes weeks after the NNPC commenced petrol lifting at the Dangote Petroleum Refinery’s gantry after an extended period of price negotiations.
On September 15, the NNPC said petrol was bought from Dangote refinery at N898 per litre. The Dangote refinery countered NNPC’s claim, describing it as “both misleading and mischievous”. A day after, the national oil company announced estimated pump prices based on prices set by the Dangote refinery for its petroleum products, saying petrol will sell for N950 in Lagos and N999 in Abuja.
Investopedia
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Shares of Nvidia (NVDA) are nearing their all-time highs Wednesday morning on positive news about the chipmaker's artificial intelligence (AI) products.
Nvidia shares, which have ended higher the past five sessions, recently edged up to $133.30. Their all-time closing high is $135.58, achieved on June 18, and record intraday high is $140.76, recorded the following session two days later, after markets were closed for Juneteenth.
On Tuesday, contract electronics manufacturing giant Foxconn reported strong demand for its servers powered by Nvidia's GB200 semiconductors, part of the latter's Blackwell architecture. Microsoft announced it was "the 1st cloud" running the Blackwell system with GB200-powered AI servers. OpenAI also thanked Nvidia for delivering "one of the first engineering builds of the DGX B200 to our office."
Also yesterday, Nvidia noted that the Blackwell platform has slashed energy consumption by up to 2,000 times over the last decade for AI training models such as OpenAI's GPT-4.
Bob Pette, vice president and general manager of Nvidia's enterprise platforms, told participants at the company's AI Summit that "We are in the dawn of a new industrial revolution," adding that the firm is "designing our systems with not just performance in mind, but with energy efficiency in mind."
Nvidia shares have soared about 170% this year.
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Businesswoman Uju Stella has responded to Burna Boy
She said, she invested three years of her life in their relationship, and it’s disheartening that he reduced it to a mere transaction. After eight years, it’s sad to see that nothing has changed, after all his Grammy and accomplishments.
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