There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Agricultureread more
A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Moving lots of data to a public cloud over the internet can take months or years. CNBC got an inside look at how AWS transfers data to the cloud for its clients.Technologyread more
The president also said he "offered to personally vouch" for Rocky's bail. Sweden, however, does not have a bail system.Politicsread more
"It troubles me that the most important political office in the world is becoming the face of racism and exclusion," Kaeser said in a Twitter post.Politicsread more
CoinShares Chief Strategy Officer Meltem Demirors discusses Facebook's Libra project and its impact on the cryptocurrency market after testifying to the House Financial...Fast Moneyread more
Some 40% of Americans would struggle to come up with even $400 to pay for an emergency expense. Just how are so many Americans so short on cash? Blame debt.Personal Financeread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
"I'm very much involved with the generals and admirals on the airplane, the F-35," Trump said. "It's way, way behind schedule and many, many billions of dollars over budget. I don't like that. ... We're going to do some big things on the F-35 program and perhaps the F-18 program. We're going to get those costs way down."
Lockheed Martin shares dropped 2 percent on Dec. 12 when the president-elect first put the company in his crosshairs over F-35 costs with this tweet:
On Dec. 21, Trump met with the CEO of Lockheed, Marillyn Hewson, at his Mar-a-Lago resort in Florida, along with the CEO of Boeing, a company he criticized in December as well for the cost of the 747 Air Force One program.
After that meeting, Hewson said she "appreciated the opportunity to discuss the importance of the F-35 program and the progress we've made in bringing the costs down."
But apparently Trump wasn't satisfied by what he heard from Hewson, tweeting the next day that he was asking Boeing to price out an alternative to the F-35, knocking the company's stock again.
Through all that, Lockheed Martin's shares rebounded again in the new year and had nearly wiped out all the declines that resulted after Trump's first negative tweet, until Wednesday.
A Lockheed Martin spokesperson issued a statement to CNBC on Trump's comments:
"We understand President-Elect Trump's concerns about the F-35 program and we've given him our full commitment to drive down cost aggressively.
We are focused on delivering the best capability possible at the best value for the American taxpayer. The price of an F-35A has come down 60 percent from the first lot contract to the recent ninth contract, and we fully expect the next contract will show another significant price decrease. At the same time, we are actively working two cost cutting initiatives known as Blueprint for Affordability and the Sustainment Cost Reduction Initiative to reduce the cost of the program by $5 billion through 2022.
We look forward to continuing to work with our government and military leaders to build on the F-35 program's record of performance and affordability. "