Shares of security and Aerospace company Lockheed Martin (NYSE:LMT) fell 6.6% in the morning session after the company reported disappointing second-quarter results and sharply lowered its full-year profit forecast.

Lockheed Martin still has a solid business, but there are few immediate catalysts. Lockheed Martin's (NYSE: LMT) quarter was loaded with cost overruns and write-offs, causing the defense contractor to miss expectations.

Lockheed Martin stock tumbled Tuesday as the defense contractor announced $1.6 billion in program losses and slashed its full-year profit forecast.