Lockheed Martin Stock Drops 4.5% Tuesday

Shares of Lockheed Martin (NYSE: LMT) dropped 4.5% in Tuesday trading. While it's possible (even likely) that part of the drop was tied to general malaise in the markets, it's also possible there's something a bit more specific going on here.

A Lockheed Martin F-35 fighter jet. Image source: Getty Images.

For the better part of a decade, Canada has been negotiating with a number of defense companies -- Lockheed, Boeing (NYSE: BA), and Airbus (OTC: EADSY) among them -- to buy a new kind of plane to replace its obsolete fleet of Boeing CF-18 fighter jets.

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Source Fool.com