Why did LMT move on Jun 22, 2026?

Lockheed Martin (LMT) shares fell 4% on June 22, 2026, after President Donald Trump renewed his public pressure on major defense contractors, reiterating that stock buybacks are a "fake way to raise a price" and will not be permitted. This rhetoric directly targeted large defense firms like Lockheed Martin, Northrop Grumman, and RTX, threatening to restrict their capital return programs. The comments amplified investor concerns over a broader legislative push, including a Senate Armed Services Committee-approved NDAA provision requiring Pentagon approval for contractor buybacks and dividends.