Lockheed Martin (LMT) shares surged 4.3% to $518.44, driven by a sharp increase in U.S. defense budget to $1.5 trillion by 2027. This news boosted expectations of bigger order backlogs and stronger long-term earnings growth for defense stocks like LMT. Expectations are high for LMT’s upcoming quarterly earnings of $6.33 per share and $19.74 billion in revenue, despite a recent slight decline in EPS estimates.

Joby Aviation, Inc. (JOBY) saw a 1.9% drop in its stock price, closing at $15.25. The company is gearing up to report earnings of -$0.2 per share, reflecting a -5.3% change from last year. With a Zacks Rank #3 (Hold), JOBY is navigating through market challenges and uncertainties to maintain stability in its stock performance.

Investors are gearing up for the next wave of AI stocks, as Zacks’ AI Boom 2.0 report highlights 4 under-the-radar companies that could lead the charge in AI’s future growth. This second wave of AI stocks is expected to revolutionize various sectors and create substantial wealth for early investors. Companies like Nvidia have paved the way for massive gains, but new opportunities are on the horizon for savvy investors looking to capitalize on AI’s continued growth.

Read more at Nasdaq: Lockheed (LMT) Surges 4.3%: Is This an Indication of Further Gains?