"The world's largest defense contractor announced on Monday a stock buyback program worth up to $3 billion, which would entail repurchasing about 42 million of the company's 360 million shares outstanding at today's stock price. Lockheed Martin (ticker: LMT) also announced a quarterly-dividend increase last month to 75 cents per share from 63 cents, bringing its yield to 4.2We own LMT.
"'Never in my dreams did I think I would be able to manage real money as a college student,' Sofka, chief executive officer of the McCann Family Student Investment Fund, said. 'To take what we learn in the classroom and apply it like this is remarkable.'"
"On its conference call today, natural gas producer Chesapeake Energy (CHK) was pretty bullish on the outlook for natural gas (UNG).
They're expanding production and will continue to do so for years, and believe that gas production will come down 'in the months and quarters ahead', starting in the fourth quarter of 2009, and extending into an 'absolute trough of production some time in the first half of 2011.'"
