i don't know where that is to lockheed martin for integrating long range and to ship them yourselves. only have 35 presumably for war against china or i'm not sure if 35 program, much in for something that is being criticized over the years. does that mean a in the us taxpayer let alone us simple additions are all for the f 35. 0 i i, uh, that's a very interesting question. we bought about 500 f 35 so far. i think maybe 300 have been delivered on their totally they, they're talking about buying over 2000 and, and it's beginning to show if it hasn't passed as operational tests, yet, even though we bought, we bought all these uh, uh, planes and it doesn't have the full suite of electronics in it. so we're gonna have to rebuild the ones that have been built already when we get the sol suite and of course the full suite they've been having trouble developing their and who knows that that will work. it is essentially a reincarnation on a much grander scale than the f 111 debacle in the 19 seventy's. and it comes from a decision process that is basically oriented toward getting programs pre

i don't know when that is to lockheed martin for integrating long range and the shipments sales only have 35 presumably for war against china. i'm not sure if 35 program much in for something that is being criticized over the years. does that mean the us tax here let alone us simple additions are all for the f 35. 0 i, i, uh, that's a very interesting question. uh, we bought about 500 f 35 so far. i think maybe 300 have been delivered on their totally they, they're talking about buying over 2000. uh and, and uh, is beginning to show if it hasn't passed as operational tests. yeah. even though we bought, we bought all these planes. it doesn't have the full suite of electronics in it. so we're going to have to rebuild the ones that have been built already when we get the sol suite. and of course, the full suite they've been having trouble developing their and who knows that that will work. it is essentially a reincarnation on a much grander scale than the f 111 debacle in the 19 seventy's. and it comes from a decision process that is basically oriented toward getting programs prematurel

shares of lockheed martin a buzz kill in today's rally.iving up early gains, ending down more than 3%. the move coming despite an earnings and revenue beat in the latest quarter the war on ukraine driving sales of the f-35 combat jet and missile defense systems. terrible price action in response to this earnings, guy. >> initially a very good price but the reversal today is something we want to talk about. it traded three times normal volume we didn't test the all-time high which i think was north of 500 they guided higher for the year. this is a stock with that guidance that's trading below market multiple. trading about 17 times, which is in line, a little cheap to them historically where lockheed trades i don't know if it was just rotation out of the space into some of these highfliers, but it's something you absolutely want to watch. when people start devaluing names like this and flying into, flocking into some of these high growth names, that's a sign as well i don't think there is anything wrong with lockheed here i think the stock

lockheed martin up 1%. lot more earnings to talk about. >> dom, thank you for. >>> phil lebeau joins us with the latest phil >> andrew, united is expanding its service internationally once again. this time focusing on asian pacific routes remember, last year, they did a big expansion that we're seeing this spring and summer into trans-atlantic routes. now asia pacific routes. here's one of the major ones that united will be adding later this year. san francisco to manila, san francisco to taipei. by the way, that's the second flight into tokyo, they're already going to the haneda airport right now. all of this together is a 40% increase in capacity, compared to where united was on asia pacific routes if you take a look at shares of united, we'll hear from them on their q2 results after the bell tomorrow, and later in the week from ceo scott kirby there are a lot of people who have been asking me, well, are the delays as bad that we're seeing in airports, especially in the new york area, as we saw last year,

was the lack of these strategic missiles in their arsenals, according to the spokesperson of lockheed martine manufacturer of atms missiles, sending such a system endangers the readiness of sensitive areas. we are also facing a shortage of ammunition, and when the president of the united states reveals military secrets about the shortage of ammunition of the american army to justify sending cluster bombs to ukraine, suddenly the tide turns in their favor, the new york newspaper quoted two american officials as saying. white is considering sending single missiles from the crisis. in addition to america , the french also had a similar turn. according to the situation, i decided to increase the shipment of equipment to ukraine, and they have scott long-range missiles at their disposal. before france, the united states and the british walked and storm cruise missiles had been sent to ukraine. the list of equipment sent by the west is getting longer and longer like the days of war. now we have to see if the missiles will be a clip for their victory as the afghans claim. it is said that two -third

lockheed martin for defense. this is self-explanatory. the world is a complicated place.ll the things they make. every government in the world will need those things. to me both of those stocks are want to edge into. i hope i own more. charles: before i let you guys go, you never know where you get great stock ideas from. i want to bring this to your attention, scott. about an hour or so ago i'm going through my in box, i got an offer from uber eats. apparently they hooked up with kfc. you really want to hear this, free eight-piece nugget combo with any kfc bill of 20 bucks. my man, that has scott martin written all over it. >> they probably know better than to send me those offers, because i get three of them. that food looks delicious. i will eat any day of the week. charles: does that make uber on a watch list? >> or maybe yum! brands. taco bell, yum brands i spent a bunch of money at domino's pizza $50 for ultimate pepperoni pizza and fan at that orange two-liter. is that stuff expensive but i hear. >> tell you honestly scott, scott you want a great meal go to keith's

was the lack of these strategic missiles in their arsenals, according to the spokesperson of lockheed martin, the manufacturer of atak missiles. ms, sending such a system is a crisis of preparedness, it endangers it, it is related, their ammunition is running out and we are also facing a shortage of ammunition , ladies, and in the situation where the us president is explaining military secrets about the shortage of ammunition of the us army to explain the sending of cluster bombs to ukraine. suddenly, the paper in favor of the new york times newspaper wrote in a report quoting two american officials that it is considering sending single missiles from the crisis. in addition to the united states, the french also had a similar turn, and according to the conditions and the decision , i increased the sending of equipment to ukraine. and they have long-range scud missiles at their disposal. before france and the united states, the british had gone ahead and sent hurricane cruise missiles to ukraine . afghans will claim a video clip for their victory. azadeh taheri, sda news agency, the first vice

that's the detritus of america's war and all of this so that lockheed martin and raytheon and groman and a host of other defense companies can make built the loop or all these weapons as to what is the last throw the dice. or, i don't know, you're in virginia and maybe your neighbors know, is it, or is it part of the escalation? once they said only helmets to the green war, then it was, you know, vis or that missile that it was patriots that it was tanks. and now it's f sixteens that is the cost of them the last in that line or does it go further? and i hope it doesn't go any further. i hope it doesn't even go that far. i live, oddly enough or obviously enough i live amongst some of the type needs, general dynamics lockey. this is one of the richest, if not be riches counties in america. and it is so largely because of the lawyers for and the ceo's and c o is the weapons and or should bring your neighbors in for the next time we do the interviews. yeah. i'd love to have coffee with them some day, but they don't offer you the likes with me now. i'm just driving around this area. well,

they're all taken with an infrared camera built here in the bay area at lockheed martin.e now, nasa says it plans to release a photo of the telescope's newest discovery tomorrow morning. so one year we've been talking about this for a while now. really incredible stuff. it's right out of a movie. >> it is. >> but it's real, jeff. >> it makes some good wallpaper for the weather center. >> for all our laptops and computers. >> we're kind of walking on the clouds tonight out here in san francisco as that fog is returning. we'll get you all teed up and ready to go for tomorrow and, of course, that big-time heat that's on the way. and you'll see as we start it off, we have those typical 50s that are going to be back with us with some areas of fog tomorrow morning. the fog doesn't look extremely extensive, but i do expect some early clouds here, especially over the north bay, right near the bay, a little bit close to san jose and the coastline. then all of this clears back for mostly sunny skies tomorrow. because of the fog at the coastline, it's going to keep temperatures out

and all of this so that lockheed martin in raytheon and groman and a host of other defense companies can make built the loop or all these weapons as to what is the last throw the dice, or i don't know you're in virginia, maybe your neighbors know is it or is it part of the escalation once they said only helmets to the green war, then it was, you know, vis or that missile that it was patriots that it was tanks and now it's f sixteens . that is the cost of them. the last in that line or does it go further? i hope it doesn't go any further out. it doesn't even go that far. i will. oddly enough around easily enough. i live amongst some of the type needs. general dynamics lockey. this is one of the richest it not be rich is counties in america. and it is so largely because of the lawyers for and the ceo's and c o is the weapons engine should bring your neighbors in for the next time we do the interview . i'd love to have coffee with them some day, but they don't offer you the likes with me now. i'm just driving around this area. well, tell you what's happening just driving around america

know, making people want to, uh, uh, we don't advise in people to put money in the shares in lockheed martin boeing, general general dynamics north recruitment. i just think that's what you want them to do. given what you're saying, but then when we talk of nuclear weapons use, is that actually helping the pentagon budget, the p. r industry in k street in washington, new lobby. the pro addition saying, we need this weapon and this complex weapon is a whole dynamic of debate about militarism hey, 80 years or of course this, this whole thing. uh, 1st of all, we've developed an idea of why ideology a miracle happens in weapons or the game changers, rather than train soldiers, smart tacticians and strategists and things like that. uh, uh, the basic model of the reformers had, was people, people use their minds. uh, uh, in the hardware it goes along with it. you know, people 1st ideas, 2nd hardware search and depending on slip that priority on top of on them. and it said basically military strength is about the german. and if you look at what's going on, they buy things that they don't test prope

but it's buying lockheed martin f 35 instead, which even the us government accountability office says plague by poor performance and unreliability, the full extent of which has been concealed by the pentagon. up until now, and berlin defense fund isn't the only fund in europe that uncle sam is dipping into france express, great concern. earlier this year that europe and defense funds replace its old weapons that you countries were dusting off and giving to you, created a sort of massive you wide cash for clunkers program would ultimately end up enriching us weapons and ammunition manufacturers instead of europe's own by hey, old habits die hard when it comes to defense. france is a self sufficient nuclear power, but germany relies on america's nuclear umbrella. germany is littered with american base as well. former french president shop. they're going to kick the americans out of the country after the 2nd world war. so it's kind of no wonder that germany is treating americans defense enrichment like its own, despite the damage that the u. s. has ag dawn, germany in europe to do their

you know, making people want to, uh, i wouldn't advise in people to put money in the shares in lockheed martin boeing, general general dynamics north recruitment. i just think that's what you want them to do, given what you're saying. but then when you talk of nuclear weapons use, is that actually helping the pentagon budget, the p. r industry in k street in washington, new lobby, the pro additional thing. we need this weapon in this complex weapon is a whole dynamic of debate about militarism hey 80 years. of course is this whole thing. first of all, we've developed an idea of why i the ology a miracle weapons that it weapons of the game changers. rather than train soldiers, smart tacticians, and strategists and things like that. uh, uh, the basic model of the reformers had, was people, people use their minds, uh, uh, in the hardware it goes along with it. you know, people, 1st ideas, 2nd hardware search. and depending on slip that priority on top of, on, i'm saying basically military strength is about the term. and if you look at what's going on, they buy things that they don't test properly

know, making people went through uh, i wouldn't advise and people to put money in the shares in lockheed martin boeing, general general dynamics north recruitment. i just think that's what you want them to do, given what you're saying. but then when you talk of nuclear weapons use, is that actually helping the pentagon budget, the p. r industry in k street in washington, new lobby. the politicians saying, we need this weapon and this complex weapon is a whole dynamic of debate about militarism hey, 80 years. of course this, this whole thing. uh, 1st of all, we've developed an idea of why i, the ology a miracle happens. it weapons of the game changers, rather than train soldiers, smart tacticians, and strategists and things like that. uh, uh, the basic model of the reformers had, was people, people use their minds, uh, uh, in the hardware it goes along with it. you know, people, 1st ideas, 2nd hardware search and depending on slip that priority on top of on. and it said basically military strength is about the german. and if you look at what's going on, they buy things that they don't test prope

but it's buying lockheed martin f 35 instead, which even the us government accountability office says flagged by poor performance and unreliability. the full extent of which has been concealed by the pentagon. up until now, and berlin defense fund isn't the only fund in europe that uncle sam is dipping into france express, great concern earlier this year that europe and defense funds to replace old weapons that you countries were dusting off and giving to you, created a sort of massive you wide cash for clunkers program would ultimately end up enriching us weapons and ammunition manufacturers instead of europe's on. but hey, old habits die hard when it comes to defense. france is a self sufficient nuclear power, but germany relies on america's nuclear umbrella. germany is littered with american base as well. former french president shop, they're going to kick the americans out of the country after the 2nd world war. so it's kind of no wonder that germany is treating america's defense enrichment like its own. despite the damage that the u. s has ag dawn, germany and europe to do their

and all of this so that lockheed martin and raytheon and groman and a host of other defense companies can make build the loop or all these weapons as to what is it the last throw the dice or i don't know you're in virginia, maybe your neighbors know is it, or is it part of the escalation? once they said only helmets to the green war, then it was, you know, vis or that missile that it was patriots that it was tank. so now it's f sixteens is the cost of them. the last in that line or does it go further? i hope it doesn't go any further. i hope it doesn't even go that far. i live. oddly enough or obviously enough, i live amongst some of the type needs. general dynamics lockey. this is one of the richest, if not be rich is counties in america. and it is so largely because of the lawyers for and the ceos and c o is the weapons industry bring your neighbors in for the next time we do the interview. i'd love to have coffee with them some day, but they don't offer you the likes with me now. i'm just driving around this area. well, tell you what's happening just driving around america and look

the trading day ahead with results expected from bank of america, morgan stanley and pnc and lockheed martinp hunt. retail sales and home builder confidence index we will hear from fed vice chair michael barr at 10:00 a.m. futures are seeking a bit of direction with the earnings and economic data points futures are relatively flat. we have seen the dow spike up a bit now in the pre-market o despite the russell 2000 with the biggest sector off the fresh record high, investors are seeing love with sectors around the 52-week highs. some are seeing the technical signs of slowing the trend is looking to be nearing an area of possible resistance this week expect a rally up to 4,545 to 4,575. let's bring in jenny harrington at gilman hill jenny, great to see you. >> thank you, frank. >> what do you make of that? do you see that same potential when you look at the technicals? >> that's what i was looking at here we are at the s&p. i think we have a pretty rich valuation that is totally in line with the inflation and market valuations are related. right now, we are 19 or 20 times multiple which is ap

stacy kubicek, the vice president for mission solutions at lockheed martin. thank you stacy for joining us. you all are familiar with general chilton, inc. for him to joining us on this panel. to put everyone in perspective historically. everyone in this room, i do not see any youngsters here. it was not that long ago you cannot say space and offense in the same sentence together. i have to share a story. i'm at the air force academy, giving a lecture to a group of cadets who are focused on space force. at the end of my comments, one of the cadets asked a question about. do you envision there being war in space. immediately, i went of course. one of, i will not have to say, but in -- a former astronaut is sitting in the back of the room and as a mentor and he jumps up and goes you cannot say that. sure i can. it is an academic institution and a second we will fight in space. that happened down dish that is how everyone was from a policy perspective to not talk like this. we do not want to see conflict in space. like a said, we are where we are at with respect

on sunday, israel announced it is buying an additional 25 f-35 lockheed martin stealth fighter jets from the united states, bringing its arsenal to 75 jets. the deal is financed through u.s. military aid to israel. france remains roiled by nationwide protests following the police killing last week of nahel merzouk, a teenager of north african descent. some 3400 people have been arrested in recent days as tens of thousands of police descended on french streets. thousands of vehicles have been burned and homes and businesses were damaged. prosecutors are investigating the death of a 27-year-old who was hit by a projectile, likely fired by riot police, during street clashes. the killing of merzouk has thrust long-simmering tensions around racism and the french police into the spotlight. >> imagine if that had been my brother. in the streets, we refused to comply. we are not safe here. we should be safe with the police but we are scared of them. that is not normal. amy: we'll go to france for the latest later in the broadcast. in ukraine, at least 43 people, including 12 children, were injur

also without the generous support of general atomics and lockheed martin and other partners, establishing the center would not have been possible, so thank you very much for your competence and continued confidence in us. last but not least, thank you for joining us today for what will be an insightful day filled with activity, and for those of you interested, we are using the hashtag on social media. so with that, what i would like to do is ask my good friend general chilton to come up to the podium to introduce our first speaker. chilly? [applause] gen. chilton: thanks, day. for those of you who don't know, we go way back to when we were captains together. when i was checking out in the f-15, he graded me and my first simulator. he did not grade me to hard, so thank you for that. i want to echo the welcome, investing a day of your time in being here today and we could not have the influence that we hope to have the benefit of space force and national security without your participation. it is my distinct honor to introduce our first speaker, general chance salty saltzman, chief of space

the space agency selected lockheed martin this week to design, build, and test a nuclear powered propulsionem. that rocket could take astronauts on a trip to mars shortening the travel time. relying on the combustion of hydrogen. it could generate energy from splitting the uranium atoms. >> they could get to places muc faster. if we're sending humans to mars instead of traditional six to nine months it takes for a vehicle to get there. we coul get them potentially as fast as three to four months. >> the first test flight of a nuclear thermal rocket is planned for late 2026 or early 2027. nasa is hoping to get humans to march by mid 2030. >>> the last weekend of july is going to feel like the last weekend in july. just normal summertime weather today and tomorrow. temperatures may be running a couple of degrees above average, but nothing out of control. no extreme heat headed our way this weekend. no any time in the extended outloo either. plenty of fog overhead along the coast through the res of the weekend. then we will cool down. the next several day will be below average temperatures to

this week, the space agency selected lockheed martin to design, build, and test a nuclear power propulsiont rocket engines will rely on the combustion fuel, splitting the uranium atoms in a much better process. >> they can ultimately get to places much faster. if we're sending humans to mars, we coul get them there potentially as fast as three to four months. >>> the first test flight of a nuclear thermal rocket is planned for late 2026 or early 2027. nasa is hoping to get humans to mars by mid 2030. >>> the last weekend in july is actually going to feel like the last weekend in july. just normal summertime weather today and again tomorrow. temperature may be running a couple degrees above average. but nothing out of control. no extreme heat headed our way this weekend. no any time in the extended outloo either. still cool and breezy. plenty of fog at the coast throughout the rest of the weekend. then we'll cool down again through next week. first several days of august will bring below average temperature to the entire bay area. the lon range, much further down the line. are we looking at

rock is miss stacey cuba check, vice president and general manager from mission solutions at lockheed martin. thank you for joining us. and then of course, you are all very familiar with general children. thank you for joining us on this. again, it's just to put everything in perspective historically. i know everyone in this room, i don't see any real youngsters here. it wasn't that long ago that you couldn't say face in office. i have to share a little story. and then at the air force academy. giving election to a group of cadets focusing on a space course. at the end of my comments, one of the cadets as to question about -- high, do you envision there ever being workspace? immediately i went, of course. one of, and i won't say who it is, i have to protect the innocent. older guy, former astronaut, sitting in the back of the room. serving is a mentor for this class. dave, you can't say that. i'm going, sure i can. it's an academic institution, and second, of course we're going to fight in space. that's how it was from a policy perspective to not be able to talk like this. of course we don't

deck bank of america, morgan stranly, bank of new york, pnc financial as well as earnings from lockheed martinicant to the movement of the day pafs trade. the dow jones managing what was that sixth straight day of gains closing at some of its highest levels for quite some time, too. so recent inflation data also picking up that trend and also pointing towards a much healthier, perhaps, economic stance as inflation begins to drop off ever so slightly. does that mean the fed will cut, or rather not hike interest rates next week, we'll wait and see. >> arabile, there's been great optimism around the future of the economy, according to goldman sachs the economy as a better chance of avoiding recession in the next 12 months than previously thought. so tell us about how the economic data is reinforcing this positive outlook. >> yeah, so drop the expect asian from a 25% figure to around 20% expectation that recession will be seen in the united states. and the key reasoning, of course, has been that inflation number. it's dropped off including that core inflation number which was the scary point, it w

the area has been home to companies, including google and lockheed martin. well, state officials have now encouraged everybody in california to recognize the positive impact that beavers have on the environment. beavers were often looked at as a nuisance for blocking streams and chewing down trees. the state fish and wildlife officials now say that dams built by beavers can help with drought and wildfires. beaver dams create ponds, which can help replenish groundwater supplies and also help prevent wildfires from spreading. landowners can ask the state for permission to kill beavers if they're causing damage. but now california has a pilot program in place to relocate beavers instead. and police in pinole encountered a really unique disturbance as they help to re contain goats. it just took over a street. look at this is videos from shea drive near pinole valley road. goats escaped from their enclosure and just invaded front yards of people. the goats ate the grass, lawns and other landscaping. some even stood on their hind legs to eat, leaves off trees. now

specifically their new york foundry and learned about a new long-term supply partnership with lockheed martin c.h.i.p.s. act spending kicks in and now when you hear about all these new semiconductor facilities building all over the country that's good news for the semiconductor capital equipment makers because it'll be able -- they're going to sell a ton of machinery into the foundries i want you to think about applied materials, lam research, kla corp and then the dutch company asml of course, these guys don't care where new foundries get built as long as they're built somewhere but i think there will be definite beneficiaries from the subsidiaries, good news for some because they've been closed out from some chinese business at the same time there's a lot of money for semiconductor research very many and more manufacturing investment equipment too. one big example is applied materials' new $4 billion epic center in santa clara which we discussed in our recent interview with apply materials' ceo gary dickerson. >> i know are cynical about the government but the c.h.i.p.s. act seems to keep t

each system costs $6.8 million at the start of last year, lockheed martin could produce. 48 of those systems a year. it's got it up to 60 now. so far, 8500 javelins have been sent to ukraine. that's a third of the us stockpile. the center for strategic and international studies estimates that if there were a war over taiwan. the us would expend more than thousand long range missiles, three weeks of conflict, 4000 joint air to surface standoff, 450 long range anti surface missiles, 400 harpoons and 400 tomahawk land attack. the long range anti surface missiles would run out within one week and takes roughly two years to produce one of those jet. one of that sorry, one of the jsc arms the joint air surface standoff. by contrast china and this again is a quotation from csi is less constrained as it is investing in munitions and acquiring high end weapons systems and equipment 5 to 6 times faster than the united states and quote, i think the military industrial complex has succumbed to its own version of institutional degeneration. the government accountability office, a report last year

there's plenty to pick from with this big earnings week we'll start with lockheed martin despite reportingbeat and raising full-year guidance on strong demand for military spending shares are down 3% and remember defense was supposed to be one of the big trades. eva atos is chief operations officer at er shares good to see you, eva what would you do at lockheed? >> i think it's a hold what's interesting with the company is they have major production cycles and that are visible, so there are no major surprises here i do not see any major categories moving the stock price and they have $150 billion in revenue backlog, so it's a good, steady, slow and steady company and a good company to own for the long term so if you're in it, it's good to continue holding it and if you do not own it, i do not see a reason why you should rush into it, and a good long-term hold, i would say. >> i am hungry, and i feel like rushing into a chipotle. it announced its first-ever development deal to expand in the middle east in partnership with the al shia group the stock is up more than 50% on the year do you li

general dunford, the former chairman of the joint chief, joined the board of lockheed martin, dod's top contractor, less than five months after leaving government service and so far, he has received nearly $1 million in compensation in that role. by contrast, secretary austin pledged not to join the board of one of these companies when he left government. general brown, if confirmed, do you commit to not receive compensation from a defense contractor for four years including compensation for being a board member? >> do the same -- with the same and charges highlighted -- >> i will take that as a yes. i will take that at your word and the american people and i hold it -- hold you to it. this is a matter of personal integrity. i will ask about the impact of the holes on the promotions and assignments of senior military officers that the senator from alabama has imposed. the families of these servicemembers are held at a standstill. there are ensure -- unsure whether to roll. -- way to enroll the kids in school. can you talk to us about the impact that these holes --holds are having on a m

attack only about 4,000 have been manufactured since the missile was developed in the 1980s by lockheed martin we don't know how many we should give because we have all own need for them. the overall theme for when this conflict is over america has to do a much better job of producing weapons if not only for our own defense, everybody wants to buy them. there is a profit in all these sales. taiwan is still waiting. turkey is waiting. a lot of our allies are waiting. they have to transition out of that russian stuff that we can't resupply and fix into western defense systems. they are not happening right now. for some reason, we are not producing weapons. after 20 years of war, we never heard about this, this new system is we are not able to make the stuff even when people have money to pay for the stuff. it is mind boggling. a. >> ainsley: several things shocked me this morning as i was preparing for the show. donald trump said why are we giving them these cluster bombs these munitions. he said biden, first of all, inned a investor tently admitted we were running out of some of our ammunition.

my question is about lockheed martin i've had it for about two years.ut it. >> i think lnt run by james who is dynamite. i think it is trading down because people feel congress isn't going to spend as much here's what you need to know a well run company that is very inexpensive. so therefore the answer is -- buy, buy, buy! >> how about we go to olga in ohio >> caller: boo-yah, professor kramer. >> boo-yah to you. what's up? >> caller: try to never, ever miss your show. >> thank you so much >> caller: i value your machine about moderna. it is almost at a six-month low. every time it raises its little head, it collapses and and also the chairman is selling it weekly. what is the problem? >> well, you know, you identified the problem, didn't you? selling, the shorts are really after it can i say in a positive way that their technology is incredible and in the end, the technology will wind. i want you to stick with it. it is a house of pain for people, but i am a believer in moderna. okay how about peter in florida peter? >> caller: hey, jimmy, how's it goi

contractors that do work have diversity officers, heads of diversity and global diversity forum -- for lockheed martin and for other companies. so isa good for them and not good for the department of defense? and our u.s. military? >> yes, and ironic point you put up right there. let me ask you about this. because there is outrage growing this weekend, after arizona republican eli crane used a derogatory term during his debate over the bill. take a listen to what he set. >> my amendment has nothing to do with whether or not colored people or -- people or anybody can serve. okay? it is nothing to do with colored or -- >> mr. -- ! >> -- or any of that stuff. >> the congressman was asked to amend what he said to people of color later said he misspoke. his words were stricken from the record. just bleep the tape. what's your reaction to hearing that and what is your message to the congressman as chair of the cpc? >> members like representative crane and matt gaetz and timberville prove every day why diversity equity and inclusion are actually needed. and it also proves why the opinion from chief justice r

companies like lockheed martin, boeing and rating onwho all have a chief diversity officer role or equivalent. we are in the middle of a recruitment crisis. mr. speaker, instead of championing programs that will make it more enticing for under-represented americans to join the service, they are instead trying to make it more difficult for our military recruitment efforts to be successful. mr. horsford: i urge my colleagues to vote no on this ill-advised amendment. let's put our service members, our national security and their needs ahead of this amendment that does nothing but divide our country, divide our military. let's continue to have the strength in our military and that strength comes from the diversity of our service members. with that, i yield back. the chair: the question is on the amendment offered by the gentleman from texas. those in favor say aye. those opposed, no. in the opinion of the chair, the noes have it. the amendment is not agreed to. the gentleman from texas. mr. roy: ask for a recorded vote. the chair: a record the vote has been requested. pursuant to clause 6 of rule

just one example -- lockheed martin received $46 billion in unclassified federal contracts last year,eturned $11 billion to shareholders through dividends and stock buybacks and paid it's ceo $25 million. these companies are fully reliant on the u.s. taxpayer, yet their ceo's make over 100 times more than the secretary of defense and 500% more than the average newly enlisted servicemember. trans-time touted $3.1 blm in profits on $5.4 billion of net sales, almost boasting to investors about just how fully it was fleecing the taxpayers. indeed, over the past two decades, major defense contractors have paid billions of dollars in fines or related settlements for fraud or misconduct. almost every major defense contractor has had to pay fines for fraud or misconduct. just the other day -- people may have seen it in the papers -- the consulting firm of booze allen hamilton was find $377 million for overcharging the defense department, just these contracts never dry up. that is why i introduced an amendment to this year's ndaa to require the secretary of defense to produce an updated report

. >> we've got a lot of earnings >> lockheed martin unh was terrific i'm saying everything is terrifichat's been bad after pnc? >> mossimo >> the ceo of mossimo was coming on and trashing apple. i said, wait a second, stop it intimating that the interview was going to be over i i was not going to ask an existential question because david is asking all those. >> that's true my new beat. >>> the data diet continues to today. let's get to industrial production with rick santelli. >> good morning, carl. june reads on industrial production we're expecting a number near unchanged, not to be minus .5% that's the lightest, the most negative month-over-month change in industrial production going back to the end of last year, december to be specific. on utilization rates also a big miss, expecting 79.5 we end up with 78.9. you have to go back to the end of last year to find a similar number we see that interest rates are down across the yield curve. they're moving back down again we did see some pops even though they remained higher priced in lower yield, retail sales better than expected on the

the former chairman of the joint chief joined the board of lockheed martin, the top contractor less thane months after leaving government service. and so far, he's received nearly a s million dollars in compensation and natural. by contrast, secretary alston pledged not to join the board of one of these companies when he left government. so if confirmed, do you commit to not receive compensation from the defense contractor for four years including compensation for being a board member? >> i will take that as a yes. it's important to take you at your word and at the american people and i will hold you to it integrity is something i know is very important to you. i want to close and use the remaining time by asking about the impact of the assignments of the senior military officers that the senator from alabama has proposed. the servicemembers are held at a standstill and unsure aboutt where -- can you spend a minute here and talk to us about the impact that these are having on our military families? >> there are several factors as we are going through this and how we are working to mitiga

back a big week ahead on the earnings calendar including bank of america, morgan stanley and lockheed martin, we bring in stephanie lee portfolio manager at hightower advisers, she is also a cnbc contributor. here we go getting into the thick of things with earnings. what do you think of the big banks and how are you going to position yourself? >> we have 11% of the s&p 500 reporting this week. we're just getting going it's going to be busy. it's going to be a lot of fun. what did we learn from the bellwethers last week? jpmorgan and wells fargo we learned net income was better than expected. total revenues would better than expected and expense control as expected i think for jp, we will see positive operating leverage. for wells fargo, we saw better deposits you add it all up, and i think we'll see morgan stanley have better than expected net interest income, better than expected investment management but investment banking will be down 24% puts and takes same with bank of america. they'll see better expenses, they've been doing a good job with that as of late but capital markets will be d