On July 21, Lockheed Martin fell 4.05% in regular trading, trading at $503.63/share, with turnover of $123 million. The decline was triggered by a U.S. Congressional Government Accountability Office report disclosing significant problems with the military's Conventional Prompt Strike hypersonic missile deployment program.

The report revealed that Lockheed Martin, as prime contractor, faces parts supply, production capacity, and technical issues, currently producing only 6-7 hypersonic missiles annually — roughly half the originally planned 12 units. Problems cited include halved capacity, surging costs, and delayed timelines. The news compounded existing market concerns over potential defense spending cuts, broadly pressuring the sector, with peer Northrop Grumman also declining 3.05%.

Adding to near-term uncertainty, Lockheed Martin is scheduled to report quarterly earnings on July 23 pre-market, with consensus revenue expectations of $19.375 billion, representing 4.32% year-over-year growth. The confluence of program execution risks and imminent earnings has intensified selling pressure on the stock.

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