Investors are increasingly backing stablecoin and credit infrastructure rather than decentralized finance (DeFi) lending alone, with Morpho Labs’ latest funding round drawing attention to onchain credit markets, according to Spark CEO Sam MacPherson.

Morpho announced Tuesday that it raised $175 million in a round led by Paradigm, a16z crypto and Ribbit Capital. While Morpho is widely known as a DeFi lending protocol, the company said that it aims to become a credit infrastructure layer for banks, asset managers and fintechs.

Onchain credit markets allow users and institutions to borrow, lend and deploy capital using blockchain-based assets. Investors are betting the sector will grow alongside stablecoins and other tokenized financial products.

As stablecoins scale, “credit becomes one of the most important pieces of infrastructure in the stack,” MacPherson told Cointelegraph.

Related: DeFi protocol Radiant to wind down after failing to recover from 2024 hack

Morpho’s growing role as lending infrastructure

Morpho has a total value locked (TVL) of $6.72 billion and about $3.47 billion in active loans, according to DeFiLlama data. Risk management platform Sentora said in a Friday newsletter that the figures indicate “significant liquidity depth.”

Morpho’s total value locked and active loans have climbed sharply since late 2024.Source: DeFiLlama

Sentora also pointed to Coinbase’s use of Morpho smart contracts to originate more than $2.17 billion in corporate USDC loans as evidence that the protocol is being used as lending infrastructure rather than solely as a retail DeFi platform.

Sentora argued that the trend extends beyond crypto-native lending. The firm said exchanges, custodians and asset managers are actively evaluating blockchain-based lending systems to power credit products, while protocols compete to become the underlying infrastructure for business-to-business integrations.

Capital flows to late-stage crypto firms 

Morpho intends to measure the success of the raise over the next 12 to 18 months by expanding integrations with banks, asset managers and large platforms, attracting more institutional capital and rolling out features from traditional credit markets to drive adoption, co-founder Merlin Egalite told Cointelegraph.

“The problem we are trying to solve is less about replacing competitors and more about establishing ourselves as the credit infrastructure layer that banks, asset managers and fintechs build on,” he said.

Morpho’s raise “largest” in DeFi history. Source: Merlin Egalite

The funding round, which Egalite called “the largest raise in DeFi history,” comes as venture capital increasingly concentrates on a small group of established crypto infrastructure projects.

According to a Q1 2026 report by CryptoRank, capital allocated to Series C and later-stage crypto funding rounds surged 1,020% year over year and 320% quarter over quarter. The category accounted for 28.4% of venture funding across just nine deals, while seed and pre-seed funding fell 38.1% and represented only 5.2% of total capital.

Egalite said that he is unconcerned about capital concentration.

Asia Express: North Korea denies crypto hacks, Upbit’s bank tests Ripple

Key Takeaways

• FreeCast (CAST) shares rocketed more than 100% Friday following the announcement of an expanded partnership with DIRECTV that includes residential and Platform-as-a-Service offerings.
• Trading volume exploded to nearly 148 million shares as the stock reached an intraday peak of $1.93, with several volatility halts occurring during the session.
• The company generated only $92,909 in Q1 2026 revenue while posting a $4.53 million net loss and holding just $119,302 in cash at quarter-end.
• Management has issued a going-concern warning in recent SEC disclosures, highlighting ongoing losses and capital-raising requirements.
• Analyst coverage remains limited to Maxim Group, which maintains a Buy rating with a $6 target price.

FreeCast (CAST) shares more than doubled Friday after the streaming technology company disclosed an expanded collaboration with DIRECTV encompassing both direct-to-consumer residential offerings and Platform-as-a-Service capabilities. The stock peaked at $1.93 during the session and closed in the $1.30–$1.59 range, depending on the source, while volume surged to approximately 148 million shares.

FreeCast, Inc. Class A Common Stock, CAST

The announcement followed Thursday’s disclosure that FreeCast would integrate DIRECTV services across both its consumer-facing residential platform and its white-label PaaS infrastructure—technology the company licenses to third-party businesses and brands.

Chief Executive William Mobley characterized the broadened agreement as extending beyond simple distribution, noting that DIRECTV could now reach FreeCast’s residential customer base and PaaS network spanning telecommunications providers, broadband operators, wireless carriers, property management firms, hospitality venues, municipalities, broadcasters, and major enterprise accounts.

According to the company, the service launched immediately through existing sales and distribution infrastructure. This eliminates additional development timelines before revenue generation can commence, which likely contributed significantly to the enthusiastic investor response.

FreeCast’s technology stack supports live television, free ad-supported streaming channels, premium streaming platforms, localized content, advertising integration, e-commerce functionality, and subscription management—all delivered through partner-branded interfaces. The DIRECTV integration aligns directly with this value proposition.

Financial Reality Paints a Challenging Picture

Despite Friday’s dramatic price appreciation, the underlying financial metrics remain concerning. FreeCast recorded revenue of merely $92,909 during the quarter ending March 31, 2026. The company posted a net loss of $4.53 million for that period, with cumulative losses reaching $10.18 million across the first nine months of the fiscal year.

The company reported cash reserves of only $119,302 as of March 31. In the same regulatory filing, management acknowledged “substantial doubt” regarding FreeCast’s ability to operate as a going concern, pointing to persistent losses and the necessity of securing additional funding.

The stock remains down 81.71% over the trailing twelve months and trades 54.9% beneath its 200-day moving average of $3.71. Friday’s DIRECTV-driven rally pushed shares 72.6% above the 20-day simple moving average of $0.97.

Trading Halts and Sparse Research Coverage

Friday’s session experienced significant turbulence. CAST triggered multiple Limit Up-Limit Down volatility halts as sudden price movements paused trading repeatedly. The intraday range spanned from $0.5452 to $1.93.

Research coverage remains extremely limited. Just one analyst firm follows the stock—Maxim Group established coverage approximately seven weeks ago with a Buy recommendation and $6 price objective.

The Relative Strength Index stood at 27.38 entering Friday’s session, indicating oversold conditions. The MACD indicator had already crossed above its signal line in May, suggesting diminishing downward momentum prior to Friday’s catalyst.

While FreeCast indicated additional partnerships and integrations may materialize, Thursday’s announcement provided no specifics regarding subscriber projections, financial terms, or partner deployment figures.

The upcoming financial report covering the fiscal year ending June 30 will provide the first meaningful indication of whether the expanded DIRECTV relationship is translating into tangible revenue generation.

Ripple has introduced tools that let AI agents use XRP and RLUSD for payments at a time when USDC continues to dominate activity on the fast-growing x402 machine-payment network.

According to Ripple, the company this week released the XRPL AI Starter Kit, a developer toolkit designed to help software agents send, receive, and manage payments on the XRP Ledger with limited human involvement.

The launch adds support for x402 payments using XRP and Ripple USD (RLUSD), placing Ripple into a market where stablecoin-based transactions currently account for most activity.

The initial release includes access to the XRPL Docs MCP Server, which allows AI applications such as Claude Code, Claude Desktop, Cursor, and custom agent frameworks to retrieve XRP Ledger documentation when needed. Ripple also introduced wallet and payment tools for Claude that support wallet creation, balance checks, transaction tracking, and payments.

Ripple said AI agents are already being used to pay for computing resources, settle invoices, and complete transactions. The company argued that existing payment systems were built around human approvals and reconciliation processes, making them less suitable for autonomous software that needs transactions to settle automatically.

USDC currently leads x402 payment activity

Data cited by Ripple highlights the challenge facing XRP and RLUSD as they enter the emerging machine-payment sector.

The x402 protocol was originally developed by Coinbase and is now maintained by the Linux Foundation’s x402 Foundation. Using the HTTP 402 “Payment Required” response code, the system allows software agents to make blockchain payments directly within standard web requests. An agent can request a paid service, receive a payment request, submit an on-chain transaction, and then continue the request using proof of payment.

According to a Chainalysis report published in early June, x402 activity on Base increased from almost zero in mid-2025 to more than 100 million cumulative transactions during the first quarter of 2026. Chainalysis noted that part of the sharp increase recorded in late 2025 was linked to PING, a pay-to-mint meme coin project that generated speculative transaction activity.

Additional figures from Web3 Trackers show more than 120 million cumulative x402 transactions and over $41 million in settled USDC volume. Base accounts for roughly 70 million transactions and $21.5 million in volume, while Solana has processed about 45 million transactions worth $16.4 million. The dashboard also reports an average payment size of approximately five cents.

Against that backdrop, Ripple is promoting the XRP Ledger’s three-to-five-second settlement times, predictable transaction costs, native escrow features, multisignature support, and built-in decentralized exchange as advantages for automated payments.

Ripple expands payment infrastructure beyond AI tools

Alongside the AI-focused rollout, Ripple has continued adding payment infrastructure tied to RLUSD and the XRP Ledger.

As previously reported by crypto.news, Mastercard recently launched an AI payments network backed by more than 30 companies, including Ripple, Coinbase, and the Solana Foundation. 

Mastercard also added RLUSD to its stablecoin settlement infrastructure, which supports settlements across networks including Ethereum, Solana, Polygon, Base, Arbitrum, Canton, Tempo, and the XRP Ledger.

Elsewhere, Ripple has integrated Bitso’s Mexican peso-backed stablecoin MXNB into its enterprise payments network. According to Ripple, MXNB and RLUSD will support liquidity and settlement for regulated transactions between the United States and Mexico using blockchain-based payment rails.

Questions remain about adoption. Ripple did not disclose any production-scale deployments, transaction volumes, or named customers using XRP or RLUSD for AI-agent payments.

At the same time, academic researchers have warned that x402 introduces additional risks around payment authorization, proof validation, and synchronization between web services and blockchain transactions, creating technical hurdles that developers must address as machine-to-machine payments expand.

U.S. spot Ethereum ETFs ended June 12 with $4.95 million in daily net outflows.

Total trading value reached $483.85 million, while net assets stood at $9.16 billion. The funds accounted for 4.56% of Ethereum’s market capitalization after the latest update. 

Ethereum ETF losses deepen as ETHA and FETH lead daily outflows 

Tracking the trend of each Ethereum ETF, the recent update indicates that BlackRock’s ETHA led the group by net assets and trading activity. ETHA held $4.75 billion in net assets, equal to a 2.36% Ethereum share. The fund recorded $4.53 million in daily net outflow and 2,720 ETH in daily ETH outflow. ETHA traded at $12.57, down 1.02%, with $355.36 million in value traded. Its daily volume reached 28.21 million shares, the highest level among the listed funds.

Source: SoSoValue (Ethereum ETFs)

Fidelity’s FETH reported the second daily outflow among the listed products. The fund recorded $415,230 in daily net outflow and 249.04 ETH in daily ETH outflow. FETH held $799.31 million in net assets and traded at $16.58. Its price fell 1.01%, while the value traded reached $29.78 million.

Grayscale ETH and ETHE stay flat on flows as prices decline 

Grayscale’s ETH ranks second by net assets with $1.46 billion. The fund recorded no daily net inflow and no daily ETH inflow on June 12. ETH traded at $15.83, down 0.94%, with $46.86 million in value traded. Its volume reached 2.95 million shares, while its fee stood at 0.15%.

Grayscale’s ETHE followed with $1.30 billion in net assets. ETHE also recorded zero daily net inflow and zero daily ETH inflow. The fund traded at $13.47, down 0.96%, with $30.05 million in traded value. Its 2.50% fee ranked as the highest.

ETHB held $523.40 million in net assets and recorded no daily net inflow. The fund traded at $21.41, down 1.02%, with $3.69 million in value traded. ETHW held $181.06 million and also recorded zero daily flow. It traded at $11.90, down 1.08%, with $10.10 million traded.

Smaller Ethereum ETFs extend zero-flow streak 

ETHV, EZET, QETH, and TETH also showed no daily inflow changes. For these Ethereum ETFs, the net assets were $82.25 million, $34.12 million, $16.29 million, and $15.99 million, respectively. Their daily price declines ranged from 0.86% to 1.02%. TETH recorded $5.23 million in value traded, above several smaller funds.

Premium and discount readings remained negative across all listed Ethereum ETFs. ETHW showed the widest discount at-0.23%, while QETH showed-0.07%. Fee levels ranged from 0.15% to 2.50%, with ETHE at the top. Most funds carried fees between 0.19% and 0.25%. 

QETH traded at $16.56, down 0.90%, with $735,490 in value traded. EZET traded at $12.61, down 1.02%, with $612,900 traded. ETHV traded at $24.34, down 0.86%, with $1.45 million traded.

Key Takeaways

• Washington and Tehran are approaching a potential agreement to reopen the Strait of Hormuz and conclude hostilities
• Conflicting statements from American and Iranian representatives highlight ongoing uncertainty about final terms
• SpaceX launched its public trading debut with shares climbing 19% to reach $160
• The public offering established SpaceX’s valuation at $1.77 trillion, theoretically making Elon Musk the first trillionaire
• American equity markets posted modest gains Friday, with the Dow advancing 0.7% and the S&P 500 climbing 0.5%

Diplomatic efforts between Washington and Tehran appear to be converging toward an agreement to conclude their conflict and restore access to the Strait of Hormuz. Simultaneously, SpaceX completed its highly anticipated public market launch, contributing to upward momentum in Friday’s trading session.

Diplomatic Breakthrough Between Washington and Tehran Takes Shape

A high-ranking American official indicated the arrangement could receive signatures “within days.” The proposed agreement would address the reopening of the strategic waterway and the dismantling of Tehran’s atomic weapons program, according to official sources.

Pakistan has served as a key mediator throughout the negotiation process. Pakistani Prime Minister Shehbaz Sharif announced that a “final, agreed upon text” had been established, stating “peace has never been this close.”

Iranian Foreign Minister Abbas Araghchi declared that a settlement “has never been closer.” He noted both nations committed to “respect the sovereignty” of one another — representing the first such written American pledge in nearly five decades, according to his statement.

However, public messaging from both parties revealed significant discrepancies. President Trump declared on Truth Social that conditions Iran had communicated to journalists “have NOTHING to do with the terms that were agreed to, in writing.”

Iran’s diplomatic mission posted that the agreement’s ultimate provisions “have not yet been determined.” Iranian government media suggested the preliminary framework would encompass American sanctions relief and military withdrawal from the region surrounding Iran.

Vice President JD Vance disputed claims of monetary payments. He stated “the Iranians are not receiving any cash” merely for executing an agreement.

Reuters indicated that the UAE had consented to unlock $10 billion for Iran, with more than $3 billion already transferred. The UAE contradicted this report, clarifying that no frozen Iranian assets had been “released, transferred, or facilitated.”

U.S. Treasury Secretary Scott Bessent suggested an agreement might materialize “as soon as this weekend or Monday” and would generate reduced energy costs. Trump is working to finalize the arrangement before Monday’s G7 summit.

U.S. Central Command verified it intercepted Iranian unmanned aircraft threatening commercial shipping in the strait Friday, though confirmed the passage “remains open for transit.”

Israeli Prime Minister Benjamin Netanyahu clarified Israel is not participating in the discussions but maintains coordination with Washington on preventing Iran from acquiring nuclear capabilities.

SpaceX Launches Public Trading

SpaceX commenced trading Friday with shares initially priced at $135 apiece. Trading began at $150 and concluded 19% higher at $160, establishing the company’s market capitalization near $1.77 trillion.

The public offering generated approximately $75 billion. Theoretically, CEO Elon Musk achieved trillionaire status.

SpaceX, which intends to deploy AI computing facilities in orbit, attracted considerable investor enthusiasm before its trading launch.

American equities advanced during the session. The Dow climbed 0.7%, the S&P 500 increased 0.5%, and the Nasdaq rose 0.3%, partially supported by positive sentiment surrounding the Iranian diplomatic developments.

Brent crude oil declined more than 3% Friday as market participants incorporated the potential for Hormuz strait access restoration.

TLDR:

• Standard Chartered’s Kendrick confirms Bitcoin’s $59K level as the definitive cycle low for 2025.
• Spot Bitcoin ETF redemptions exceeded $5.72B since May, driven partly by SpaceX IPO liquidity needs.
• Kendrick maintains $100K Bitcoin and $4K Ethereum price targets through year-end despite the selloff.
• A potential U.S.-Iran peace deal and falling oil prices could ease macro pressure on crypto markets.

Standard Chartered analyst Geoffrey Kendrick declared the crypto winter over, maintaining his year-end targets of $100,000 for Bitcoin and $4,000 for Ethereum.

Kendrick confirmed Bitcoin’s drop to around $59,000 as the cycle bottom, citing heavy spot ETF redemptions and SpaceX IPO-related liquidity pressure as the primary drivers behind the recent selloff.

With those headwinds now clearing, he expects renewed buying activity and returning ETF inflows to support a sustained recovery through year-end.

Kendrick Confirms $59K as Cycle Bottom After Sharp ETF Selloff

Bitcoin touched $59,375 on June 5, marking a 53% decline from its October 6 all-time high of $126,000. Kendrick identified that level as the definitive cycle low for the current market. In a note published Friday, he stated: “Winter is over. Welcome back to crypto Spring.”

Spot Bitcoin ETFs recorded some of their steepest redemptions since launch during the period. Total outflows surpassed $5.72 billion from the second week of May.

Kendrick noted that ETF holders were anecdotally liquidating positions to free up cash for the SpaceX IPO, which began trading on Nasdaq at around $150 on Friday.

SpaceX shares climbed roughly 26% above the IPO price shortly after listing. The launch also drew significant activity on crypto derivatives platforms.

Hyperliquid recorded high-volume trading on SpaceX crypto contracts, with valuations reaching up to $2.4 trillion at points during the session.

With the IPO now complete, that specific source of selling pressure should ease. Kendrick expects the removal of that liquidity drain to allow ETF inflows to recover, reinforcing the $59,000 floor as a durable base for the next leg higher.

$100K BTC and $4K ETH Targets Hold as Macro Pressure Eases

Alongside the IPO effect, Kendrick pointed to easing geopolitical tensions as a second catalyst supporting the recovery. A potential U.S.-Iran peace deal discussed at the G7 could prevent further oil price escalation.

Cooling crude prices would reduce upward pressure on U.S. Treasury yields, lifting a key macro constraint on crypto markets.

Brent crude fell to around $87 per barrel and West Texas Intermediate traded near $85. President Trump indicated a peace deal with Iran was likely, though he later reversed course on Truth Social, saying the publicly reported terms “was not what had been agreed” and warning Tehran’s officials to quickly “get their act together.”

Despite the uncertainty, Kendrick kept his year-end price targets unchanged. He added that Ethereum may outperform Bitcoin in the near term as market conditions normalize. At the time of his note, Bitcoin was trading just below $64,000.

To confirm the market floor, Kendrick outlined three metrics to watch. He expects Strategy’s Michael Saylor to announce a fresh Bitcoin purchase on Monday, net-positive daily inflows to return to U.S. spot Bitcoin ETFs, and international oil prices to continue declining through the week.

Michael Saylor said SpaceX’s IPO marks a milestone for corporate Bitcoin adoption, arguing that 25% of the so-called Mag 8 now hold BTC on their balance sheets.

In a June 13 X post, the Strategy chairman congratulated Elon Musk and SpaceX following the company’s highly anticipated stock market debut.

Saylor used the occasion to highlight Bitcoin’s growing presence among major technology firms, arguing that SpaceX’s listing has made Bitcoin part of the balance sheet strategy of 25% of the so-called Mag 8 companies.

“Congratulations Elon Musk and SPCX on a historic IPO. Thanks to you, 25% of the Mag8 now holds Bitcoin on the balance sheet.”

Tesla and SpaceX give Bitcoin a place in the Mag 8

Saylor’s comment refers to Tesla and SpaceX, two companies linked to Musk that have disclosed Bitcoin holdings. According to BitcoinTreasuries data, SpaceX currently holds 18,712 BTC, while Tesla owns 11,509 BTC.

Combined, the two companies hold 30,221 BTC, giving weight to Saylor’s argument that Bitcoin has gained a foothold among some of the world’s most influential technology firms.

The remark came as SpaceX made its public market debut. Shares of the aerospace company surged as much as 31% intraday to a high of $176.52 before giving back part of those gains and closing at $160.95, still up 19% from its $135 IPO price.

The strong debut briefly pushed the company’s market capitalization above $2 trillion and underscored investor enthusiasm for one of the most anticipated listings in recent years.

For Saylor, the significance extends beyond the stock’s performance. The longtime Bitcoin advocate has spent years promoting the cryptocurrency as a corporate treasury asset through Strategy, which remains the world’s largest public Bitcoin holder. According to BitcoinTreasuries, Strategy owns 845,256 BTC, far ahead of every other corporate holder.

SpaceX’s position among the largest corporate Bitcoin owners also places it ahead of several well-known crypto-related firms. BitcoinTreasuries ranks the company eighth among public Bitcoin treasury holders, behind firms including Strategy, Twenty One Capital, Metaplanet, MARA Holdings, Bitcoin Standard Treasury Company, Bullish, and Strive.

Corporate Bitcoin adoption continues to accelerate

Saylor’s comments also come as corporate Bitcoin adoption continues to expand. Data from BitcoinTreasuries shows that public companies collectively hold about 1.26 million BTC worth roughly $80.56 billion. The number of public companies holding Bitcoin has climbed to 199, while aggregate corporate holdings have increased about 3% over the past 30 days.

The trend has accelerated in recent months as more companies adopt Bitcoin treasury strategies previously associated with Strategy. Twenty One Capital currently holds 43,514 BTC, while Metaplanet owns 40,177 BTC and MARA Holdings controls 35,303 BTC, according to BitcoinTreasuries data.

While most members of the Mag 8 have yet to add Bitcoin to their balance sheets, Saylor’s post highlights how corporate adoption has expanded beyond a handful of early adopters. With SpaceX now trading publicly while holding nearly 19,000 BTC, Bitcoin’s presence among major technology companies appears more visible than ever.

At press time, Bitcoin (BTC) was trading near $61,242, according to data from crypto.news. The world’s leading crypto asset has fallen 3.1% in the past 24 hours and 8% over the last week. However, it still remains roughly 51.4% below its record high of $126,080 as investors continue to react to macroeconomic uncertainty, elevated Treasury yields, and expectations that the Federal Reserve could keep interest rates higher for longer.

Key Points

• Defense contractor Lockheed Martin secured two Pentagon agreements worth approximately $2.8 billion combined
• The primary contract, valued at $2.29B, supports ongoing F-35 Lightning II maintenance operations
• An additional agreement worth up to $525M funds CH-53K helicopter engineering work through Sikorsky subsidiary
• Shares opened at $539.94, declining 1.52% and trading significantly below the 52-week peak of $692
• Korea Investment Corp expanded LMT stake by 17.1% during Q4, while Wall Street maintains Hold consensus at $620.68 price objective

Defense industry leader Lockheed Martin (LMT) has been awarded a pair of significant U.S. Department of Defense agreements totaling approximately $2.8 billion, supporting both the F-35 stealth fighter platform and CH-53K heavy helicopter initiatives.

Shares of LMT began trading Friday at $539.94, representing a 1.52% decline for the session. The current price remains considerably beneath the 52-week peak of $692.00 and trades below the 200-day simple moving average of $562.41.

Lockheed Martin Corporation, LMT

The primary contract carries a $2.29 billion valuation structured as a cost-plus-incentive-fee indefinite-delivery/indefinite-quantity arrangement. This agreement encompasses comprehensive sustainment operations for the F-35 Lightning II Joint Strike Fighter platform.

The scope includes site activation services, fleet management operations, interim contractor support functions, and reliability improvement initiatives. End users span the Air Force, Marine Corps, Navy, Foreign Military Sales participants, and F-35 Cooperative Program Partners.

Geographically, F-35 sustainment activities will primarily occur at Fort Worth, Texas facilities (85% of work), with supplementary operations in Orlando, Florida. The performance period extends through December 2028.

The secondary agreement flows to Sikorsky Aircraft, a Lockheed subsidiary, carrying a ceiling value of $525 million. This contract addresses non-recurring engineering efforts, integration activities, and flight-test support services for the CH-53K Heavy Lift Helicopter initiative.

The beneficiaries include the Marine Corps, Navy, and an international Foreign Military Sales partner. Primary execution sites include Stratford, Connecticut (65.2% of workload) and West Palm Beach, Florida (19.93%), with the completion date scheduled for June 2031.

Neither contract includes immediate fund obligations at award. Instead, financial commitments will occur incrementally as individual task orders are issued. Naval Air Systems Command located in Patuxent River, Maryland, serves as the contracting authority.

Institutional Ownership Expands

Korea Investment Corp expanded its LMT holdings by 17.1% during the fourth quarter, elevating its total position to 175,294 shares worth roughly $84.78 million. Multiple additional institutional participants have similarly increased their exposure.

Welch Group LLC grew its position by 1.5% in Q4. Both Clough Capital Partners and Jain Global LLC established fresh positions during Q3. Institutional ownership collectively represents 74.19% of outstanding Lockheed Martin shares.

Quarterly Results and Street Sentiment

Lockheed’s first quarter 2026 performance fell short of Wall Street expectations. The defense contractor reported earnings per share of $6.44, undershooting the consensus forecast of $6.79. Revenue registered at $18.02 billion against projections of $18.38 billion.

Top-line growth measured just 0.3% on a year-over-year basis. Management guidance for full-year 2026 EPS spans $29.35–$30.25, while analyst models center around $29.88 annually.

Analyst perspectives remain divided. Citigroup reduced its price objective from $675 down to $571 while maintaining a “neutral” stance. Morgan Stanley lowered its target from $675 to $653 alongside an “equal weight” designation. Bank of America decreased its objective to $600, also carrying a “neutral” rating.

Conversely, DZ Bank elevated LMT to “strong buy” status in late April. Wells Fargo commenced coverage with an “equal weight” rating paired with a $650 target.

The prevailing consensus among 21 covering analysts stands at “Hold,” with a mean price objective of $620.68—approximately 15% above Friday’s opening quotation.

The company has also announced a quarterly dividend distribution of $3.45 per share, scheduled for June 26 payment, yielding 2.6% on an annualized basis.