LMT

Lockheed Martin reported Q3 2026 adjusted EPS of $7.97, beating consensus estimates by 6.4%, with sales climbing 11.3% to $20.71 billion. The company's backlog surged to $291.98 billion, driven by strong performance in Missiles and Fire Control (up 24% YoY). LMT raised its 2026 full-year sales guidance to $80-$82 billion and adjusted EPS outlook to $30.35-$30.75.

Global oil markets surged following drone attacks on Saudi and Russian infrastructure, pushing WTI to $99/bbl and Brent to $112/bbl (5-month high). Stock futures declined sharply with the Dow down 285 points, S&P 500 down 69 points, and Nasdaq down 479 points, while bond yields fell across the board. Initial jobless claims remained historically low at 194K. Q3 earnings showed mixed results: Procter & Gamble and Lockheed Martin beat expectations, Spotify missed earnings but showed strong subscriber growth, and Valero Energy posted strong refining margins.

Middle Eastern tensions from drone attacks on Saudi and Russian infrastructure and tanker attacks in the Strait of Hormuz drove oil prices up 2% to five-month highs, sending stock futures lower. Jobless claims remained historically low at 194K. Q3 earnings showed mixed results: Procter & Gamble and Lockheed Martin beat estimates while Spotify missed, though all three stocks traded higher. Valero Energy surged on strong refining market conditions.