<p><strong>唐納德·特朗普</strong> 總統加大了對主要國防承包商的壓力，針對他們依賴股票回購和高管薪酬而犧牲生產速度的問題。</p>
<ul>
<li><strong>RTX 股票正在波動。</strong> 查看圖表和價格走勢。</li>
</ul>
<p>特朗普在週一於馬阿拉歌莊園發表聲明，標誌着五角大樓將如何管理近 1 萬億美元年度預算的重大轉變。</p>
<p><strong>閲讀下一篇: 1 萬億美元的假日季節——美國購物者創造歷史</strong></p>
<h2><strong>優先考慮生產而非分紅</strong></h2>
<p>政府的主要不滿在於企業利潤與顯著的交付延遲之間的明顯不匹配，這降低了國家安全的準備狀態。</p>
<p>特朗普批評最大的國防承包商每年支付高管超過 5000 萬美元的薪酬，並在關鍵項目面臨長期交付延遲的情況下授權數十億美元的股票回購。</p>
<p>&#34;我們將討論高管的薪酬，他們每年賺 4500 萬和 5000 萬美元，卻無法快速建造，&#34;特朗普在週一説道。</p>
<p>&#34;如果他們要賺那樣的錢，就必須快速建造。&#34;</p>
<h2><strong>擬議的行政命令</strong></h2>
<p>Punchbowl News 是第一家 報道 上週白宮正在起草一項行政命令，該命令將懲罰未能達到績效基準的國防承包商。</p>
<p><strong>提案的關鍵組成部分包括：</strong></p>
<ul>
<li><strong>限制回購和分紅：</strong> 對於項目嚴重滯後或超預算的公司，限制資本回報。</li>
</ul>
<ul>
<li><strong>與績效掛鈎的薪酬：</strong> 強制高管獎金直接與武器系統的及時交付掛鈎。</li>
</ul>
<ul>
<li><strong>強制再投資：</strong> 鼓勵公司在獲得聯邦補貼之前，利用內部資本進行研發和設施升級。</li>
</ul>
<p><strong>閲讀下一篇：</strong> 本週股市交易時間：2025 年聖誕假期安排</p>
<h2><strong>新的採購理念</strong></h2>
<p>在國防部長 <strong>皮特·赫格斯特</strong> 的支持下，“通過力量實現和平” 倡議旨在消除傳統採購流程的官僚主義。</p>
<p>特朗普政府堅決認為，納税人的資金應轉化為前線的硬件，而不是華爾街的分紅。然而，行業分析師警告稱，這種干預可能會驅走私人投資。</p>
<p>&#34;這似乎是過度干預，在我們看來，承包商不需要受到監管，因為合同結構和更清晰的需求信號可以自我調節投資，&#34; Jefferies 的分析師寫道，引用了 華爾街日報。</p>
<h2><strong>股票反應</strong></h2>
<p>隨着過去一週的報道發佈，主要國防股票經歷了波動，上週大幅下跌，隨後恢復。</p>
<p><strong>RTX</strong> <strong>公司</strong> (NYSE: RTX) 和 <strong>洛克希德·馬丁公司</strong> (NYSE: LMT) 上週股價下滑，因為市場消化了政府的批評，但到週二這兩隻股票都已恢復，RTX 回升至 185 美元區間。</p>
<p><strong>諾斯羅普·格魯曼公司</strong> (NYSE: NOC) 也經歷了類似的軌跡，從大約 560 美元的低點反彈，週二交易接近 580 美元。</p>
<p>與此同時，<strong>通用動力公司</strong> (NYSE: GD) 在該組中保持最為穩定，得益於總統提議的 2026 財年國防預算增加 13.4% 的整體背景。</p>
<p><strong>閲讀下一篇：</strong></p>
<ul>
<li>D-Wave、Rigetti、IonQ 股票在零售推動的聖誕反彈中上漲</li>
</ul>
<p><em>照片來源: Shutterstock</em></p>

洛克希德馬丁

雷神技術公司

<p>特朗普總統批評主要防務承包商高管薪酬過高和股票回購，原因是武器交付延遲。他提議發佈行政命令，懲罰未能達到績效基準的承包商，將高管獎金與及時交付掛鈎。像 RTX 和洛克希德馬丁這樣的股票經歷了波動，但隨後恢復。特朗普的倡議旨在優先考慮生產而非分紅，儘管分析師警告這可能對私人投資產生負面影響</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>唐納德·特朗普</strong> 總統加大了對主要國防承包商的壓力，針對他們依賴股票回購和高管薪酬而犧牲生產速度的問題。</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 股票正在波動。</strong> 查看圖表和價格走勢。</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>特朗普在週一於馬阿拉歌莊園發表聲明，標誌着五角大樓將如何管理近 1 萬億美元年度預算的重大轉變。</p>
</div><p><strong>Read Next: The $1 Trillion Holiday Season—US Shoppers Make History</strong></p>
<div class="lb-trans"><p><strong>閲讀下一篇: 1 萬億美元的假日季節——美國購物者創造歷史</strong></p>
</div><h2><strong>Prioritizing Production Over Payouts</strong></h2>
<div class="lb-trans"><h2><strong>優先考慮生產而非分紅</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>政府的主要不滿在於企業利潤與顯著的交付延遲之間的明顯不匹配，這降低了國家安全的準備狀態。</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>特朗普批評最大的國防承包商每年支付高管超過 5000 萬美元的薪酬，並在關鍵項目面臨長期交付延遲的情況下授權數十億美元的股票回購。</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;我們將討論高管的薪酬，他們每年賺 4500 萬和 5000 萬美元，卻無法快速建造，&#34;特朗普在週一説道。</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;如果他們要賺那樣的錢，就必須快速建造。&#34;</p>
</div><h2><strong>Proposed Executive Order</strong></h2>
<div class="lb-trans"><h2><strong>擬議的行政命令</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 報道 上週白宮正在起草一項行政命令，該命令將懲罰未能達到績效基準的國防承包商。</p>
</div><p><strong>Key components of the proposal include:</strong></p>
<div class="lb-trans"><p><strong>提案的關鍵組成部分包括：</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>限制回購和分紅：</strong> 對於項目嚴重滯後或超預算的公司，限制資本回報。</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>與績效掛鈎的薪酬：</strong> 強制高管獎金直接與武器系統的及時交付掛鈎。</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>強制再投資：</strong> 鼓勵公司在獲得聯邦補貼之前，利用內部資本進行研發和設施升級。</li>
</ul>
</div><p><strong>Read Next:</strong> Stock Market Hours This Week: Christmas 2025 Holiday Schedule</p>
<div class="lb-trans"><p><strong>閲讀下一篇：</strong> 本週股市交易時間：2025 年聖誕假期安排</p>
</div><h2><strong>A New Procurement Philosophy</strong></h2>
<div class="lb-trans"><h2><strong>新的採購理念</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>在國防部長 <strong>皮特·赫格斯特</strong> 的支持下，“通過力量實現和平” 倡議旨在消除傳統採購流程的官僚主義。</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>特朗普政府堅決認為，納税人的資金應轉化為前線的硬件，而不是華爾街的分紅。然而，行業分析師警告稱，這種干預可能會驅走私人投資。</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;這似乎是過度干預，在我們看來，承包商不需要受到監管，因為合同結構和更清晰的需求信號可以自我調節投資，&#34; Jefferies 的分析師寫道，引用了 華爾街日報。</p>
</div><h2><strong>Stocks React</strong></h2>
<div class="lb-trans"><h2><strong>股票反應</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>隨着過去一週的報道發佈，主要國防股票經歷了波動，上週大幅下跌，隨後恢復。</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·馬丁公司</strong> (NYSE: LMT) 上週股價下滑，因為市場消化了政府的批評，但到週二這兩隻股票都已恢復，RTX 回升至 185 美元區間。</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>諾斯羅普·格魯曼公司</strong> (NYSE: NOC) 也經歷了類似的軌跡，從大約 560 美元的低點反彈，週二交易接近 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>與此同時，<strong>通用動力公司</strong> (NYSE: GD) 在該組中保持最為穩定，得益於總統提議的 2026 財年國防預算增加 13.4% 的整體背景。</p>
</div><p><strong>Read Next:</strong></p>
<div class="lb-trans"><p><strong>閲讀下一篇：</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 股票在零售推動的聖誕反彈中上漲</li>
</ul>
</div><p><em>Photo: Shutterstock</em></p>
<div class="lb-trans"><p><em>照片來源: Shutterstock</em></p>
</div>

特朗普抨擊國防公司 CEO 的 5000 萬美元薪酬，同時武器交付卻面臨延遲