Shares of Lockheed Martin closed more than 3.5 percent lower Tuesday after it announced the separation of its IT services business.
“It’ll be somewhat dilutive to earnings but it allows them to exit a lower-margin business they felt was structurally impaired to some degree and allows them to focus on the manufacturing side of the business,” said Joseph DeNardi of Stifel Nicolaus, which has a “hold” rating on the stock.
