Senate Vote Hurts Lockheed Shares
“The Senate voted 58 - 40 to strip the defense budget for a Lockheed Martin contract for F-22s. A lot of members wanted to keep the program to keep people employed even though they think the F-22 would be abandoned. We have to get through the house decision, but the senate voting against the F-22 and Lockheed Martin is lower by 8%.” CNBC’s Power Lunch 7/21/2009
In a much anticipated vote, the Senate has approved an amendment to cut out $1.75 billion from the defense budget allotted to the purchase of seven new F-22 fighter jets.
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