Lockheed Martin Stock Rises Due to Increased F-35 Orders and Record Backlog

• Lockheed Martin's stock climbed nearly 7% on Thursday.
• The company's contract backlog reached a record $292 billion.
• Lockheed Martin's sales increased by 11% year over year to $20.7 billion in Q3.
• The U.S. government ordered more F-35 jets, contributing to the stock surge.
• Lockheed Martin adjusted its yearly outlook upwards due to the increased backlog.