NEW YORK, NY / ACCESSWIRE / May 23, 2017 / Defense stocks had a good start to the week on Monday with Lockheed Martin being one of the big winners and even racing to a new high. Donald Trump signing a nearly $110 billion weapons deal with Saudi Arabia pushed stocks higher as the deal could even be worth $350 billion in over 10 years. General Electric was also one of the energy companies to see some gains from President Trump's mega-deal though the company is also facing an EU probe.

RDI Initiates Coverage on:

Lockheed Martin Corporation
https://ub.rdinvesting.com/news/?ticker=LMT

General Electric Company
https://ub.rdinvesting.com/news/?ticker=GE

Lockheed Martin Corporation saw gains of 1.55% yesterday and even hit a new high of $280.79 during intra-day trading. President Donald Trump has been in Saudi Arabia over the weekend and has signed a $110 billion arms deal. The news has pushed defense stocks higher, including Lockheed. The global defense firm has also won a $137.8 million military contract on May 22 to support the production of the F-35 Lightning II aircraft. The work will take place mostly in Texas, but some will also take place in Florida as well as other parts of the U.S. The company also announced that it is planning to add 500 new jobs at its Missiles and Fire Control plant in South Orlando, and is seeking $3.5 million in incentives for the expansion.

Access RDI's Lockheed Martin Research Report at:
https://ub.rdinvesting.com/news/?ticker=LMT

General Electric Company had a modest close in the green up 0.46% on Monday but also had some concerning news. The company announced on Monday that it's now facing an EU probe over its LM Wind Power acquisition. It was last October that GE announced it would be acquiring LM Wind power from private equity firm Doughty Hanson for $1.65 billion, which the EU had cleared this March. General Electric stated, "On March 9, 2017, the European Commission notified us that they were opening a proceeding to evaluate possible infringements by the company in their submissions regarding the LM Wind Power transaction. Since that point, there has been no further formal communication from the commission to GE regarding the proceedings. The LM Wind Power transaction was approved by Brazil, China, the U.S. and the EC, and the deal closed on April 20, 2017." The company also said that it is cooperating with the investigation.

Access RDI's General Electric Research Report at:
https://ub.rdinvesting.com/news/?ticker=GE

Our Actionable Research on Lockheed Martin Corporation (NYSE: LMT) and General Electric Company (NYSE: GE) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com