Lockheed Martin Profits Fly Past Wall Street Estimates

Defense contractor Lockheed Martin (LMT), which makes weapons including F-16 fighter jets and Trident missiles, posted higher fourth-quarter earnings of $827 million, or $2.17 per share, topping Wall Street's expectations. The results surpassed the $823 million, or $2.05 per share, the company earned a year ago and beat estimates of $1.99 per share. The earnings per share results, however, were boosted by a share buyback.