Lockheed Martin Loses $2.2 Billion in Market Cap After a Big Sales Miss

Lockheed Martin Loses $2.2 Billion in Market Cap After a Big Sales Miss

If you'll pardon the expression when speaking about a defense contractor, Lockheed Martin (NYSE: LMT) is sticking to its guns.

Three months ago, after reporting an earnings beat for its fiscal second quarter, Lockheed Martin raised guidance for the rest of this year by $0.15, predicting that it would earn between $12.30 and $12.60 per share. Three months later, Lockheed Martin has just reported an earnings miss -- but it's raising guidance yet again.

Here's how that story goes.

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Source: Fool.com