Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Lockheed Martin (LMT) reinstated with a Neutral at Goldman. 2. Five Below (FIVE) initiated with a Neutral at BTIG. 3. AMC Entertainment (AMC) and Cinemark (CNK) were initiated with a Buy at Loop Capital while the firm initiated Regal Entertainment (RGC) with a Hold. 4. Delta Air Lines (DAL) initiated with an In-Line at Imperial Capital. 5. LINE Corp. (LN) initiated with a Neutral at JPMorgan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, Reference Link

Lockheed Martin was awarded a $102.06M cost-plus-incentive-fee modification to previously-awarded contract for capability package development and fielding, system integration and fielding, and in-service sustainment in support of current configurations of the AEGIS combat system. Work is expected to be completed by December 31. The Naval Sea Systems Command is the contracting activity.

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During its earnings conference call, Lockheed Martin says expectations for FY24 remain unchanged. Will reassess guidance by the end of Q2. Says company off to a solid start in 2024. Thinking of 2025, has higher confidence on continued growth. Sees potential "re-balance of the workforce." Expects "stable growth" over the next five years.

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Backs FY24 free cash flow view $6B-$6.3B; FY24 CapEx view ~$1.75B.

Backs FY24 revenue view $68.5B-$70B, consensus $69.51B.

Lockheed Martin was awarded a $156.99M cost-plus-fixed-fee contract for Joint Air-to-Surface Standoff Missile, or JASSM, enterprise software. This contract provides for the sustainment, modernization, and advancement of JASSM enterprise management software; operational real-time combat analysis systems; SMART-Sync software; mission optimization analysis and reporting capabilities; terminal area model automation systems engineering, integration, and test; and enhanced JASSM advanced training. Work will be performed at King of Prussia, Pennsylvania, and is expected to be completed by April 21, 2025. This contract was a sole source acquisition. FY24 operation and maintenance funds in the amount of $10M are being obligated at time of award for the base year, along with procurement funds of $602,555. The Air Force Life Cycle Management Center is the contracting activity.