GM Finds a New Growth Engine in Missiles

This article first appeared on GuruFocus. General Motors (NYSE:GM) rose 3.50% intraday after beginning to supply missile-housing components for Lockheed Martin's (NYSE:LMT) Patriot PAC-3 MSE interceptors, adding another potential growth avenue as defense manufacturers struggle to expand capacity. GM delivered its first batch in August. Lockheed said GM completed work that typically takes months in three weeks. CEO Mary Barra told analysts this summer she expects $700 million of defense revenue this year at double-digit margins. Lockheed shares fell 2.05% intraday. Warning! GuruFocus has detected 12 Warning Signs with GM. Is GM fairly valued? Test your thesis with our free DCF calculator.