Elon Musk, chief executive officer of Tesla Motors Inc., said U.S. military-satellite launches may be at risk because a joint venture of the government’s two biggest contractors relies on Russian engines.
The development phase of Lockheed Martin Corp. ’s F-35 jet fighter, the most expensive U.S. weapon program, will likely take longer and more money than expected to complete, Chief Executive Officer Robert Stevens said.
Lockheed Martin Corp. , the world’s largest defense company, said first-quarter profit rose by 5.6 percent, aided by higher sales of its Patriot anti-missile interceptors, and it boosted its full-year profit estimate because of a favorable tax settlement.
Lockheed Martin Corp. said its incoming chief executive officer resigned after the company discovered a relationship with a subordinate and named one of its unit heads to the position starting next year.
Lockheed Martin Corp., the world’s largest defense company, forecast higher profit for the year and said 2012 sales may remain the same as this year after announcing a 19 percent increase in third-quarter earnings.