Defense Secretary Pete Hegseth has ordered senior leaders at the Pentagon and throughout the U.S. military to develop plans for cutting 8% from the defense budget in each of the next five years, according to a memo obtained by The Washington Post and officials familiar with the matter, reported Dan Lamothe, Hannah Natanson and Alex Horton. The memo exempts a handful of programs, including the president’s expanded military mission along the U.S.-Mexico border, the report noted. Publicly traded defense contractors include BAE Systems (BAESY), Boeing (BA), General Dynamics (GD), HII (HII), L3Harris Technologies (LHX), Lockheed Martin (LMT), Northrop Grumman (NOC) and RTX (RTX).
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