Overall, China's imports of major commodities in January are more than just a reflection of an economy well on it way to recovering from the coronavirus pandemic.
Its earnings before interest and taxes (EBIT) rose to $488.1 million from $382.5 million for the same period a year ago, beating the $428.2 million seen in a Refinitiv poll.
Shares of the company fell 1.2% in premarket trading, after the company said fourth-quarter deliveries of its F-35 jets fell 17.6% from 51 jets a year earlier.
Lockheed forecast full-year earnings for 2021 to be in the range of $26.00 to $26.30 per share, above analysts' average expectation of $26.13 per share.
Shares of the company rose 2.7% in premarket trading after the company said its free cash flow could almost double to $4.5 billion in 2021.
The company provided a full-year revenue outlook of about $63.4 billion to $65.4 billion which was below analysts' estimate of revenue of about $67.28 billion.
Pockets of the market have recently demonstrated investor behavior consistent with bubble-like sentiment.
Elevated retail participation has contributed to soaring prices. Retail broker eToro told Reuters it registered more than 380,000 new users in the first 11 days of 2021.
It is having to pay substantially more for alternative supplies, and there are reports of coal shortages in certain parts of the country, just as winter bites.
Depending on investor response, proceeds could reach $8 billion which the e-commerce leader is likely to use for general corporate expenditure, one of the people said.