Online car retailer Vroom (VRM) shares plunge on news it will cut 90% of its workforce and shut down its e-commerce business. Lockheed Martin (LMT) shares dip on warnings its 2024 sales could fall below expectations. The defense and aerospace contractor posted a fourth-quarter earnings beat. Lastly, Fisker (FSR) states its unsold EVs from 2023 are expected to be delivered by the end of the first quarter. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.
Online car retailer Vroom (VRM) shares plunge on news it will cut 90% of its workforce and shut down its e-commerce business.
Lockheed Martin (LMT) shares dip on warnings its 2024 sales could fall below expectations. The defense and aerospace contractor posted a fourth-quarter earnings beat.
Lastly, Fisker (FSR) states its unsold EVs from 2023 are expected to be delivered by the end of the first quarter.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Luke Carberry Mogan.
Reuters
(Reuters) -Lockheed Martin forecast its 2024 profit below Wall Street expectations on Tuesday, as the U.S. defense contractor's largest aeronautics segment that makes the F-35 jets faces supply chain disruptions. U.S. defense firms are seeing a notable increase in orders amid escalating tensions between China and the Philippines, the ongoing conflict between Russia and Ukraine, and in the Middle East. Lockheed said in October its production rate was impacted by low availability of processor assemblies, solid-rocket motors, castings and forgings, and its F-35 program had taken the worst hit.
The Wall Street Journal
This earnings season is hitting its stride with a swath of the country’s largest companies providing quarterly updates as the [stock market reaches new highs](https://www.wsj.com/livecoverage/stock-market-today-dow-jones-01-22-2024).
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