This article is from the source 'independent' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.independent.co.uk/news/business/news/donald-trump-tweet-lockheed-martin-shares-drop-f35-stealth-fighter-boeing-meeting-twitter-a7492111.html
The article has changed 3 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Donald Trump tweet causes Lockheed Martin shares to tumble for second time this month | Donald Trump tweet causes Lockheed Martin shares to tumble for second time this month |
| (10 days later) | |
| US President-elect Donald Trump has again tweeted about the “tremendous cost of the Lockheed Martin F-35”, causing the aerospace company's stocks to tumble on Thursday. | US President-elect Donald Trump has again tweeted about the “tremendous cost of the Lockheed Martin F-35”, causing the aerospace company's stocks to tumble on Thursday. |
| The tweet is the latest in an ongoing war of words between Mr Trump and US defence companies, which he has criticised for excessive costs. | The tweet is the latest in an ongoing war of words between Mr Trump and US defence companies, which he has criticised for excessive costs. |
| It comes after Mr Trump met with the chief executives of both Lockheed and Boeing earlier this week. | It comes after Mr Trump met with the chief executives of both Lockheed and Boeing earlier this week. |
| “Based on the tremendous cost and cost overruns of the Lockheed Martin F-35, I have asked Boeing to price-out a comparable F-18 Super Hornet!” Mr Trump tweeted on Thursday evening. | “Based on the tremendous cost and cost overruns of the Lockheed Martin F-35, I have asked Boeing to price-out a comparable F-18 Super Hornet!” Mr Trump tweeted on Thursday evening. |
| Lockheed Martin shares dropped about 2 per cent to $247.75 in after-hours trading shaving about $1.2bn (£976m) off the defence company’s market value, according to CNBC. | |
| Meanwhile Boeing shares rose by nearly one per cent to $158.52. | Meanwhile Boeing shares rose by nearly one per cent to $158.52. |
| On Wednesday, the US President-elect met with Marillyn Hewson, CEO of Lockheed Martin, which makes the F-35 fighter jet, and Dennis Muilenburg, head of Boeing, which has a contract to build two new Air Force One planes. | On Wednesday, the US President-elect met with Marillyn Hewson, CEO of Lockheed Martin, which makes the F-35 fighter jet, and Dennis Muilenburg, head of Boeing, which has a contract to build two new Air Force One planes. |
| The F-35 program is a critical sales generator for the company, accounting for 20 per cent of last year’s revenue of $46.1bn. | The F-35 program is a critical sales generator for the company, accounting for 20 per cent of last year’s revenue of $46.1bn. |
| “We're trying to get costs down ... primarily the F-35, we're trying to get the cost down. It's a program that is very, very expensive,” Mr Trump said on Wednesday after the meeting. | “We're trying to get costs down ... primarily the F-35, we're trying to get the cost down. It's a program that is very, very expensive,” Mr Trump said on Wednesday after the meeting. |
| Mr Trump said the negotiations with Lockheed Martin were “just beginning” and described it as “a little bit of a dance.” | Mr Trump said the negotiations with Lockheed Martin were “just beginning” and described it as “a little bit of a dance.” |
| Lockheed declined to comment and Boeing said only: “We have committed to working with the President-elect and his administration to provide the best capability, deliverability and affordability across all Boeing products and services to meet our national security needs.” | Lockheed declined to comment and Boeing said only: “We have committed to working with the President-elect and his administration to provide the best capability, deliverability and affordability across all Boeing products and services to meet our national security needs.” |
| Earlier this month, Mr Trump tweeted: “Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order!” | Earlier this month, Mr Trump tweeted: “Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order!” |
| Following his comments, Boeing’s stock temporarily fell by around $2 a share, wiping $1bn from the company’s stock market value, which it later recovered. | Following his comments, Boeing’s stock temporarily fell by around $2 a share, wiping $1bn from the company’s stock market value, which it later recovered. |
| Lockheed Martin also saw their stocks tumble when Mr Trump criticised the program to build new F-35 jets, said to be the world's most expensive weapons program. | Lockheed Martin also saw their stocks tumble when Mr Trump criticised the program to build new F-35 jets, said to be the world's most expensive weapons program. |