TheStreet’s Jim Cramer says though there are a lot of company earnings due out this week, he is most focused on Lockheed Martin (LMT). The defense giant is scheduled to release its third quarter results before the opening bell Tuesday. Analysts polled by Thomson Reuters are expecting Lockheed to post earnings of $2.72 a share — that would be lower than the $2.76 it reported for the same period last year. Revenue for the quarter is expected to come in at $11.13 billion which is in line with the year ago period. The world’s largest defense contractor has beat expectations for the last two quarters. Cramer holds Lockheed Martin in his Action Alerts PLUS charitable trust portfolio. He says, ‘there’s rumors that they’re going to announce a gigantic head count reduction which would free up a lot of cash flow, I think, to buy back stock which is something they’ve been doing consistently.’ He added, ‘Lockheed Martin is probably the single biggest beneficiary unfortunately of the war torn strife pretty much in every single part of the world right now.’ He says LMT is a buy.
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