LMT - U.S. OKs sale of THAAD system missiles to UAE Patriot missiles to Saudi Arabia

The U.S. State Department approved on Tuesday the potential sale of THAAD missile interceptors to the United Arab Emirates and Patriot missile interceptors to Saudi Arabia in separate deals worth as much as $5.3B.

The UAE has requested to buy 96 THAAD missile rounds, fire control and communication stations and related equipment, and Saudi Arabia is seeking 300 Patriot missiles.

Lockheed Martin ( NYSE: LMT ) makes the Terminal High Altitude Area Defense, while Raytheon Technologies ( NYSE: RTX ) will be the prime contractor for producing the Patriot missiles.

Lockheed Martin's ( LMT ) "underwhelming" Q2 results do not reflect its potential, Chase Fida writes in a bullish analysis published on Seeking Alpha .

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