The Traderszone Network

Published in TZ Latest News 26 January, 2016 by The TZ Newswire Staff

Lockheed seals services deal with Leidos, forecasts profit below view

Lockheed Martin Corp (LMT.N) on Tuesday announced a $5 billion tax-free deal to combine its information systems and government services business with Leidos Holdings Inc (LDOS.N), and forecast a lower-than-expected profit in 2016. Lockheed’s shares fell as much as 5 percent amid confusion over future prospects for the Pentagon’s No. 1 supplier, although the stock recovered after Lockheed officials reassured analysts they still expected rising sales and earnings in coming years. Lockheed was down 0.8 percent to $209.25.