By John Mylant: With the budget cuts that began March 1, I would think stocks that are most dependent upon government contracts would be affected the most. Should investors be concerned? Some of the more well-known "weapons makers" said that the US budget cuts will not hurt their profits. I know General Dynamics Corp. (GD) said it would not change its full-year outlook and Lockheed Martin Corp.
[AP] - Lockheed Martin Corp. says its second-quarter profit dropped 10 percent, burdened by a charge tied to some job cuts and a pension adjustment. But its results still topped analysts' expectations.
AP - Engineering consulting firm Tetra Tech Inc. on Wednesday posted a higher profit for its fiscal first quarter, the company also lowered its guidance for the full year, citing a downturn in the commercial construction market.
NEW YORK (Reuters) - Aetna Inc posted a 44 percent drop in third-quarter profit on Wednesday, hurt by investment losses stemming from the credit crisis, and the No. 3 U.S. health insurer lowered its full-year forecast.