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Lockheed Beats Boeing In Defense Budget

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April 9 (Bloomberg) -- Lockheed Martin Corp. had the "best outcome" from the U.S. Defense Department's proposed budget announced this week, with Boeing Co. "the weakest" among major contractors, according to Sanford C. Bernstein & Co.

"Decisions reinforce the difficulty the administration faces in reducing the defense budget," the firm said in a note to investors. "Our top pick in the sector remains Lockheed Martin, with strong overall growth potential." The report cited plans announced April 6 by U.S. Defense Secretary Robert Gates for the company's F-35 fighter aircraft.

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