New York, Jan 31, 2026, 13:19 EST — The market has closed.
- L3Harris announced it secured a U.S. Navy contract connected to the Marine Corps’ precision-strike program.
- Lockheed’s 2026 guidance and new missile production deals kept major defense giants under the spotlight heading into the weekend.
- Space-related stocks saw choppy action, as Redwire dropped following revealed shareholder sales.
L3Harris announced it landed a U.S. Navy contract to build Red Wolf vehicles for the Marine Corps’ precision-strike program, aimed at firing long-range missiles capable of striking moving targets over 200 nautical miles away. CEO Christopher Kubasik described the system as a way to deliver “affordable mass” to the Marines’ firepower. (Reuters)
The update arrived just as investors enter February, refocusing attention on missile production and delivery timelines following a busy week of earnings and Pentagon demand clues. With markets closed for the weekend, the big question is whether contract news and guidance tweaks will keep defense and space suppliers in demand when trading picks up again on Monday.
Capacity is the key focus for the group. The military demands more interceptors and affordable strike options—fast. Contractors, meanwhile, are pushing to prove they can ramp up production without sacrificing much margin.
L3Harris shares fell 3.7%, ending Friday at $342.85. Lockheed Martin climbed 1.88% to $634.22. RTX ticked up 0.53%, while Boeing edged down 0.14%, all amid a general market pullback. (MarketWatch)
L3Harris, which released its results Thursday, projects 2026 revenue between $23.0 billion and $23.5 billion, with adjusted EPS ranging from $11.30 to $11.50. The company also expects about $3.0 billion in adjusted free cash flow — that’s cash remaining after capital expenditures. It flagged delayed contract awards linked to the recent government shutdown as a headwind for fourth-quarter revenue. (Q4 Capital)
Lockheed kicked off the week with news of a profit-sharing deal with the Pentagon tied to missile production goals. The company plans to more than quadruple its THAAD interceptor output to 400 units annually, up from 96. It also unveiled a seven-year plan to ramp up Patriot PAC-3 interceptor production to 2,000 per year, a big jump from 600. Lockheed added that contract “make-whole” clauses might cushion the impact if Congress doesn’t approve funding for the planned multi-year purchases. (Reuters)
Lockheed Martin CEO Jim Taiclet highlighted “high demand” in the company’s results materials, projecting 2026 free cash flow between $6.5 billion and $6.8 billion. He pointed to a record backlog of $194 billion in contracted work still awaiting delivery. (Media – Lockheed Martin)
Smaller space-related stocks behaved more like individual plays. Redwire closed Friday at $11.75, slipping $1.06, following disclosures of significant insider sales late last week. (Redwire Corporation)
Virgin Galactic slipped 2.73% to $2.85, deepening its losing streak as investors remained cautious about the cash-burning space tourism sector. (MarketWatch)
Rocket Lab reported a successful launch of a South Korean earth-imaging satellite from New Zealand, highlighting how launch frequency—not just new contracts—can still sway sentiment in the space sector. (Rocket Lab)
Demand remains strong, but the risks haven’t faded. Funding schedules can slip, production ramps may stretch suppliers thin, and contracts often miss unexpected costs. Smaller space companies face dilution risk and tight deadlines lurking behind every announcement.
Huntington Ingalls Industries is set to release its earnings before the U.S. market opens on Thursday, Feb. 5. (Nasdaq)
