Bonus Episode for July 27. Defense companies Lockheed Martin and RTX report <a href="https://www.wsj.com/business/earnings/lockheed-martin-raises-full-year-outlook-on-continued-expansion-of-munitions-production-ff5aeb37?mod=WSJ_WNPOD" target="_self" rel="noopener noreferrer">surging backlogs</a> as war <a href="https://www.wsj.com/business/earnings/rtx-again-raises-full-year-forecast-on-robust-demand-higher-backlog-9e5f08e5?mod=WSJ_WNPOD" target="_self" rel="noopener noreferrer">increases demand</a> for weapons. Wall Street Journal aerospace and defense reporter <a href="https://www.wsj.com/news/author/drew-fitzgerald?mod=WSJ_WNPOD" target="_self" rel="noopener noreferrer">Drew FitzGerald</a> discusses how the defense sector is responding to demands from Washington and what to look for as Boeing, General Dynamics and L3Harris report this week.

WSJ national security reporter <a href="https://www.wsj.com/news/author/marcus-weisgerber?mod=WSJ_WNPOD" target="_self" rel="noopener noreferrer">Marcus Weisgerber</a> hosts this special bonus episode of What's News in Earnings, where we dig into companies’ earnings reports and analyst calls to find out what’s going on under the hood of the American economy.

Sign up for the WSJ's free <a href="https://www.wsj.com/newsletters/markets-am?mod=WSJ_WNPOD" target="_self" rel="noopener noreferrer">Markets A.M. newsletter</a>. Hosted by Simplecast, an AdsWizz company. See <a href="https://pcm.adswizz.com">pcm.adswizz.com</a> for information about our collection and use of personal data for advertising.

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