<p><strong>唐纳德·特朗普</strong> 总统加大了对主要国防承包商的压力，针对他们依赖股票回购和高管薪酬而牺牲生产速度的问题。</p>
<ul>
<li><strong>RTX 股票正在波动。</strong> 查看图表和价格走势。</li>
</ul>
<p>特朗普在周一于马阿拉歌庄园发表声明，标志着五角大楼将如何管理近 1 万亿美元年度预算的重大转变。</p>
<p><strong>阅读下一篇: 1 万亿美元的假日季节——美国购物者创造历史</strong></p>
<h2><strong>优先考虑生产而非分红</strong></h2>
<p>政府的主要不满在于企业利润与显著的交付延迟之间的明显不匹配，这降低了国家安全的准备状态。</p>
<p>特朗普批评最大的国防承包商每年支付高管超过 5000 万美元的薪酬，并在关键项目面临长期交付延迟的情况下授权数十亿美元的股票回购。</p>
<p>&#34;我们将讨论高管的薪酬，他们每年赚 4500 万和 5000 万美元，却无法快速建造，&#34;特朗普在周一说道。</p>
<p>&#34;如果他们要赚那样的钱，就必须快速建造。&#34;</p>
<h2><strong>拟议的行政命令</strong></h2>
<p>Punchbowl News 是第一家 报道 上周白宫正在起草一项行政命令，该命令将惩罚未能达到绩效基准的国防承包商。</p>
<p><strong>提案的关键组成部分包括：</strong></p>
<ul>
<li><strong>限制回购和分红：</strong> 对于项目严重滞后或超预算的公司，限制资本回报。</li>
</ul>
<ul>
<li><strong>与绩效挂钩的薪酬：</strong> 强制高管奖金直接与武器系统的及时交付挂钩。</li>
</ul>
<ul>
<li><strong>强制再投资：</strong> 鼓励公司在获得联邦补贴之前，利用内部资本进行研发和设施升级。</li>
</ul>
<p><strong>阅读下一篇：</strong> 本周股市交易时间：2025 年圣诞假期安排</p>
<h2><strong>新的采购理念</strong></h2>
<p>在国防部长 <strong>皮特·赫格斯特</strong> 的支持下，“通过力量实现和平” 倡议旨在消除传统采购流程的官僚主义。</p>
<p>特朗普政府坚决认为，纳税人的资金应转化为前线的硬件，而不是华尔街的分红。然而，行业分析师警告称，这种干预可能会驱走私人投资。</p>
<p>&#34;这似乎是过度干预，在我们看来，承包商不需要受到监管，因为合同结构和更清晰的需求信号可以自我调节投资，&#34; Jefferies 的分析师写道，引用了 华尔街日报。</p>
<h2><strong>股票反应</strong></h2>
<p>随着过去一周的报道发布，主要国防股票经历了波动，上周大幅下跌，随后恢复。</p>
<p><strong>RTX</strong> <strong>公司</strong> (NYSE: RTX) 和 <strong>洛克希德·马丁公司</strong> (NYSE: LMT) 上周股价下滑，因为市场消化了政府的批评，但到周二这两只股票都已恢复，RTX 回升至 185 美元区间。</p>
<p><strong>诺斯罗普·格鲁曼公司</strong> (NYSE: NOC) 也经历了类似的轨迹，从大约 560 美元的低点反弹，周二交易接近 580 美元。</p>
<p>与此同时，<strong>通用动力公司</strong> (NYSE: GD) 在该组中保持最为稳定，得益于总统提议的 2026 财年国防预算增加 13.4% 的整体背景。</p>
<p><strong>阅读下一篇：</strong></p>
<ul>
<li>D-Wave、Rigetti、IonQ 股票在零售推动的圣诞反弹中上涨</li>
</ul>
<p><em>照片来源: Shutterstock</em></p>

洛克希德马丁

雷神技术公司

<p>特朗普总统批评主要防务承包商高管薪酬过高和股票回购，原因是武器交付延迟。他提议发布行政命令，惩罚未能达到绩效基准的承包商，将高管奖金与及时交付挂钩。像 RTX 和洛克希德马丁这样的股票经历了波动，但随后恢复。特朗普的倡议旨在优先考虑生产而非分红，尽管分析师警告这可能对私人投资产生负面影响</p>

<p>President <strong>Donald Trump</strong> has intensified pressure on major defense contractors, targeting their reliance on stock buybacks and executive compensation at the expense of production speed.</p>
<div class="lb-trans"><p><strong>唐纳德·特朗普</strong> 总统加大了对主要国防承包商的压力，针对他们依赖股票回购和高管薪酬而牺牲生产速度的问题。</p>
</div><ul>
<li><strong>RTX stock is moving.</strong> See the chart and price action here.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>RTX 股票正在波动。</strong> 查看图表和价格走势。</li>
</ul>
</div><p>Trump made an announcement at Mar-a-Lago on Monday, signaling a major shift in how the Pentagon will manage its nearly $1 trillion annual budget.</p>
<div class="lb-trans"><p>特朗普在周一于马阿拉歌庄园发表声明，标志着五角大楼将如何管理近 1 万亿美元年度预算的重大转变。</p>
</div><p><strong>Read Next: The $1 Trillion Holiday Season—US Shoppers Make History</strong></p>
<div class="lb-trans"><p><strong>阅读下一篇: 1 万亿美元的假日季节——美国购物者创造历史</strong></p>
</div><h2><strong>Prioritizing Production Over Payouts</strong></h2>
<div class="lb-trans"><h2><strong>优先考虑生产而非分红</strong></h2>
</div><p>The administration's main grievance is a perceived mismatch between corporate profits and significant delivery delays, which reduce national security readiness.</p>
<div class="lb-trans"><p>政府的主要不满在于企业利润与显著的交付延迟之间的明显不匹配，这降低了国家安全的准备状态。</p>
</div><p>Trump criticized the largest defense contractors for paying executives upwards of $50 million annually and authorizing billions in share repurchases while key programs face chronic delivery delays.</p>
<div class="lb-trans"><p>特朗普批评最大的国防承包商每年支付高管超过 5000 万美元的薪酬，并在关键项目面临长期交付延迟的情况下授权数十亿美元的股票回购。</p>
</div><p>&#34;We'll be discussing the pay to executives, where they're making $45 and $50 million a year and not being able to build quickly,&#34; Trump said on Monday.</p>
<div class="lb-trans"><p>&#34;我们将讨论高管的薪酬，他们每年赚 4500 万和 5000 万美元，却无法快速建造，&#34;特朗普在周一说道。</p>
</div><p>&#34;They're going to make that kind of money, they have to build quickly.&#34;</p>
<div class="lb-trans"><p>&#34;如果他们要赚那样的钱，就必须快速建造。&#34;</p>
</div><h2><strong>Proposed Executive Order</strong></h2>
<div class="lb-trans"><h2><strong>拟议的行政命令</strong></h2>
</div><p>Punchbowl News was the first to report last week that the White House is drafting an executive order that would penalize defense contractors that fail to meet performance benchmarks.</p>
<div class="lb-trans"><p>Punchbowl News 是第一家 报道 上周白宫正在起草一项行政命令，该命令将惩罚未能达到绩效基准的国防承包商。</p>
</div><p><strong>Key components of the proposal include:</strong></p>
<div class="lb-trans"><p><strong>提案的关键组成部分包括：</strong></p>
</div><ul>
<li><strong>Limiting Buybacks and Dividends:</strong> Restrictions on capital returns for companies whose projects are significantly behind schedule or over budget.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>限制回购和分红：</strong> 对于项目严重滞后或超预算的公司，限制资本回报。</li>
</ul>
</div><ul>
<li><strong>Performance-Linked Pay:</strong> Mandating that executive bonuses be tied directly to the timely delivery of weapons systems.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>与绩效挂钩的薪酬：</strong> 强制高管奖金直接与武器系统的及时交付挂钩。</li>
</ul>
</div><ul>
<li><strong>Forced Reinvestment:</strong> Encouraging firms to utilize internal capital for research and development (R&amp;D) and facility upgrades before receiving federal subsidies.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>强制再投资：</strong> 鼓励公司在获得联邦补贴之前，利用内部资本进行研发和设施升级。</li>
</ul>
</div><p><strong>Read Next:</strong> Stock Market Hours This Week: Christmas 2025 Holiday Schedule</p>
<div class="lb-trans"><p><strong>阅读下一篇：</strong> 本周股市交易时间：2025 年圣诞假期安排</p>
</div><h2><strong>A New Procurement Philosophy</strong></h2>
<div class="lb-trans"><h2><strong>新的采购理念</strong></h2>
</div><p>Supported by Secretary of Defense <strong>Pete Hegseth</strong>, the “Peace Through Strength” initiative seeks to eliminate the bureaucracy of the traditional procurement process.</p>
<div class="lb-trans"><p>在国防部长 <strong>皮特·赫格斯特</strong> 的支持下，“通过力量实现和平” 倡议旨在消除传统采购流程的官僚主义。</p>
</div><p>The Trump administration remains firm that taxpayer dollars should be converted into hardware on the front lines rather than dividends on Wall Street. However, industry analysts warn that such interventions could drive away private investment.</p>
<div class="lb-trans"><p>特朗普政府坚决认为，纳税人的资金应转化为前线的硬件，而不是华尔街的分红。然而，行业分析师警告称，这种干预可能会驱走私人投资。</p>
</div><p>&#34;This seems to be an overreach, and, in our view, the contractors don't need to be regulated given contract structure and clearer demand signals self-regulate investments,&#34; analysts from Jefferies wrote, per the Wall Street Journal.</p>
<div class="lb-trans"><p>&#34;这似乎是过度干预，在我们看来，承包商不需要受到监管，因为合同结构和更清晰的需求信号可以自我调节投资，&#34; Jefferies 的分析师写道，引用了 华尔街日报。</p>
</div><h2><strong>Stocks React</strong></h2>
<div class="lb-trans"><h2><strong>股票反应</strong></h2>
</div><p>As reports came out over the past week, major defense stocks navigated volatility with a sharp dip last week, followed by a recovery.</p>
<div class="lb-trans"><p>随着过去一周的报道发布，主要国防股票经历了波动，上周大幅下跌，随后恢复。</p>
</div><p><strong>RTX</strong> <strong>Corp.</strong> (NYSE: RTX) and <strong>Lockheed Martin Corp.</strong> (NYSE: LMT) saw their shares slide last week as the market processed the administration’s criticisms, but both stocks had recovered by Tuesday, with RTX climbing back to the $185 range.</p>
<div class="lb-trans"><p><strong>RTX</strong> <strong>公司</strong> (NYSE: RTX) 和 <strong>洛克希德·马丁公司</strong> (NYSE: LMT) 上周股价下滑，因为市场消化了政府的批评，但到周二这两只股票都已恢复，RTX 回升至 185 美元区间。</p>
</div><p><strong>Northrop Grumman Corp.</strong> (NYSE: NOC) followed a similar trajectory, rebounding from a low of approximately $560 to trade near $580 by Tuesday.</p>
<div class="lb-trans"><p><strong>诺斯罗普·格鲁曼公司</strong> (NYSE: NOC) 也经历了类似的轨迹，从大约 560 美元的低点反弹，周二交易接近 580 美元。</p>
</div><p>Meanwhile, <strong>General Dynamics Corp.</strong> (NYSE: GD) remained the most stable of the group, bolstered by the broader context of the president's proposed 13.4% increase in the fiscal 2026 defense budget.</p>
<div class="lb-trans"><p>与此同时，<strong>通用动力公司</strong> (NYSE: GD) 在该组中保持最为稳定，得益于总统提议的 2026 财年国防预算增加 13.4% 的整体背景。</p>
</div><p><strong>Read Next:</strong></p>
<div class="lb-trans"><p><strong>阅读下一篇：</strong></p>
</div><ul>
<li>D-Wave, Rigetti, IonQ Stocks Climb In Retail-Fueled Santa Rally</li>
</ul>
<div class="lb-trans"><ul>
<li>D-Wave、Rigetti、IonQ 股票在零售推动的圣诞反弹中上涨</li>
</ul>
</div><p><em>Photo: Shutterstock</em></p>
<div class="lb-trans"><p><em>照片来源: Shutterstock</em></p>
</div>

特朗普抨击国防公司 CEO 的 5000 万美元薪酬，同时武器交付却面临延迟