"I'm on the road with General Emo Gardner today in San Francisco, CA," Hedgeye CEO Keith McCullough writes today. "The takeaway on Defense Spending is crystal clear. It's going up, from here (potentially up a lot)."
On Lockheed Martin (LMT), McCullough adds:
"Lockheed is down more than -2% this morning post earnings guidance that 'disappointed' the Old Wall. In the immediate-term that presents an oversold signal. Longer-term, buying LMT at the low-end of the risk range should continue to pay off. As usual, LMT's guidance is now officially conservative."
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(P.S. Click here to join Hedgeye Industrials analyst Jay Van Sciver at 2:30PM ET today for a live Q&A discussing their favorite long and short ideas. The discussion will pertain to Investing Ideas related names, like newly-added long Textron (TXT) and former ideas Deere (DE) and Wabtec (WAB).)
