Diamonds and Dogs


Lockheed Martin (LMT) higher on earnings. The defense contractor that makes F-22 and F-35 jets easily beat expectations as revenue rose 1% to $15.13 billion. Lockheed has been a heavy supplier of missiles and other military equipment in Ukraine's fight against Russia's invasion over the past year. Lockheed's free cash flow came in at $1.27 billion up 11% year over year. Lockheed paid out $784M in dividends and $500M in the repurchase of common stock, so the firm returned 100% of FCF to shareholders.

Not a great quarter for Goldman Sachs (GS). The Investment Banking giant is down a percent due to trading slowdown, sluggish retail sector and a $470 million loss on the sale of the Marcus loans after its foray into consumer banking, which CEO Solomon had championed for years, flopped.

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