Report
Chris Higgins
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Midterms Flip House; 2020 Defense Budget on Shakier Ground but Near-Term Contractor Growth Locked In

The Nov. 6 midterm election results saw the Democrats taking over the House of Representatives, while the Republicans retained the Senate. House Armed Services Committee ranking member Rep. Adam Smith will now assume the chairmanship, while Rep. Pete Visclosky will take over as defense appropriations subcommittee chairman. We anticipate both will try to ramp up scrutiny of Department of Defense nuclear modernization, specifically the B-21 bomber (Northrop Grumman) and the Columbia submarine (Gen...
Underlying
Lockheed Martin Corporation

Lockheed Martin is a security and aerospace company. The company has four segments: Aeronautics, which is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of military aircraft; Missiles and Fire Control, which provides air and missile defense systems, logistics, fire control systems, and mission operations support; Rotary and Mission Systems, which provides design, manufacture, service and support for military and commercial helicopters, radar systems, and simulation and training services; Space, which researches, designs, develops, engineers and produces satellites, space transportation systems, and strategic, strike, and defensive systems.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Chris Higgins

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