Lockheed Martin reported on Tuesday that its second-quarter profit plunged by about 80%, after the U.S. defense group recorded a pretax loss of $1.6 billion, mainly linked to a classified program within its Aeronautics segment,

The deal would come after the country's ministry of public security held protracted talks since at least 2022 with multiple U.S. defence companies to acquire helicopters. Lockheed Martin is also negotiating with Vietnam's defence ministry the sale of C-130 military transport planes, multiple officials have said.

Shares of security and Aerospace company Lockheed Martin (NYSE:LMT) fell 6.6% in the morning session after the company reported disappointing second-quarter results and sharply lowered its full-year profit forecast.

Lockheed Martin reported on Tuesday that its second-quarter profit plunged by about 80%, after the U.S. defense giant recorded pre-tax losses of $1.6 billion, mainly linked to a classified program within its Aeronautics segment.

The defense contractors’ stocks move in opposite directions after Lockheed discloses $1.6 billion in losses on its legacy defense business.

This partnership between UCF and Lockheed Martin is an example of how Florida leads in workforce education,' Gov. DeSantis said.

Shares of Lockheed Martin ( NYSE: LMT) tumbled as much as 9% on Tuesday after the defense contractor reported sharply lower second-quarter earnings because of more than $1.6 billion in program-related charges, falling short of Wall Street expectations.