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Boeing's plan to relocate two major defense programs from California to Oklahoma could signal the start of a major shift in the locations of defense contractors, and how they work. For the areas attracting the companies, it's about jobs. For the contractors, it's about remaining competitive.

Defense contractor Lockheed Martin posted higher fourth-quarter earnings that exceeded expectations, boosted by sales of its fighter jets and satellite systems. The earnings per share results, however, were boosted by a share buyback.