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Lockheed Martin Corp. (LMT) on Wednesday announced that it is quadrupling the production of Precision Strike Missiles (PrSM), following a framework agreement with the U.S. Department of War.
This comes after the U.S. Central Command confirmed earlier this month that long-range Precision Strike Missiles were used for the first time in the ongoing Iran war.
The agreement builds on a $4.94 billion contract that was awarded to Lockheed Martin in March 2025 to produce additional Precision Strike Missiles.
Lockheed Martin shares were up nearly 1% in Wednesday’s pre-market trade. Retail sentiment on Stocktwits around the company trended in the ‘bearish’ territory at the time of writing.
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Also See: Iran Reportedly Snubs Ceasefire Plan, Officials Say Trump Is Negotiating With Himself
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