Lockheed risks delay in $400M in payments over F-35 software, Bloomberg says

The Pentagon will withhold about 10% of the price for new F-35s from Lockheed Martin until the company shows new software works properly, which potentially could delay more than $400M in payments by December on 52 of the fighter jets, reported Bloomberg’s Tony Capaccio. The plane requires the delay-plagued software upgrade to function properly with new cockpit hardware before it can carry more precise weapons and collect more information on enemy jets and defenses, the author notes. Shares of Lockheed Martin are up 1.7% in afternoon trading.