Why Lockheed Martin Stock Zoomed Higher Today
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Lockheed Martin's stock rose nearly 3% following news of a strengthened partnership with Korea Aerospace Industries (KAI). The companies signed a memorandum of understanding (MOU) to enhance their aircraft development collaboration, including rotorcraft and UAVs. This agreement builds on a 30-year relationship, originally focused on the F-16 fighter aircraft. Lockheed's COO emphasized the importance of this partnership for global security amid rising tensions. No financial details were disclosed regarding the MOU.
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