Why Shares of Lockheed Martin Are Up Today

Shares of Lockheed Martin (NYSE: LMT) rose 4.76% on Monday, as the F-35 manufacturer gained altitude along with the broader market. Investors are feeling optimistic thanks to some promising early results on a potential coronavirus vaccine, lifting hopes that the worst of the COVID-19 pandemic will soon be behind us.

As industrial stocks go, Lockheed Martin has weathered the pandemic pretty well. The stock is down 3% year to date, beating the S&P 500 by about 5 percentage points. Global production and supply chains have been affected somewhat by the pandemic and the resulting shelter-in-place orders, but the company managed to post first-quarter earnings that came in ahead of expectations.

Image source: Lockheed Martin.