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Defense secretary nominee Mattis says he backs Lockheed's F-35

Jan. 12, 2017 2:19 PM ETLockheed Martin Corporation (LMT) StockGD, LMT, NOCBy: Carl Surran, SA News Editor15 Comments
  • Secretary of Defense nominee James Mattis said at today's Senate confirmation hearing that Lockheed Martin's (LMT -0.9%) F-35 stealth fighter is vital for the U.S. and its allies.
  • Pres.-elect Trump has been a persistent critic of the F-35, and ripped the program yesterday for being behind schedule and over budget, but Mattis said Trump has "in no way shown any lack of support" for the F-35 but just wants "bang for his buck."
  • Mattis also suggested that human pilots fly Northrop Grumman's (NOC -1%) forthcoming B-21 bomber, which has been criticized by Senate Armed Services Chairman McCain for not being more transparent on its total acquisition costs.
  • He voiced support for the recapitalization of U.S. nuclear assets, including the Columbia-class ballistic-missile submarine, for which General Dynamics (GD -0.2%) is the prime contractor; Mattis is a GD shareholder but says he is resigning from GD's board and selling his GD stock, and would recuse himself from matters related to GD for one year.

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