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.