Revenue climbed an impressive 15.7%, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment. Lockheed is an AAP holding.
Defense is strong and only getting stronger, Cramer added. One area of strong demand has been Lockheed's F-35 jet.
Lockheed's earnings results and today's durable goods report are combining to give wings to shares of Boeing (BA - Get Report) ahead of its own earnings report Wednesday before the open. "Defense is a big theme going into the election," Cramer concluded.