Published September 24, 2015 1:54pm EDT | Updated September 24, 2015 3:05pm EDT

Lockheed Martin Increase Share Buyback Authorization By $3.0 Billion

Defense contractor Lockheed Martin Corp. said Thursday its board has approved an increase to its share buyback authorization of $3.0 billion. Shares rose 0.6% in afternoon trade, and are up 6% in the year so far, while the S&P 500 has lost 7%.