IBM isn't the only company announcing new deals. Late Thursday, Lockheed Martin (LMT: sentiment, chart, options) reported that it landed a contract with the U.S. Air Force to build its next-generation Global Positioning Systems, or GPS III, for $1.4 billion. LMT announced that it would work with General Dynamics (GD) and ITT Corp. (ITT) to produce 8 GPS IIIA satellites, with first launch projected for 2014. What's more, 8 GPS IIIB and 16 GPS IIIC satellites are planned for later increments.

In addition, LMT said the work would create 500 new jobs for the company.

The shares of LMT are slightly higher this afternoon as the stock hovers close to breakeven. The security bounced off support in the 98 region in late March and is now approaching resistance in the 112-114 region. However, the stock has the support of its long-term 10-month and 20-month trendlines. These moving averages have ushered the shares higher since May 2004.

The equity could still benefit from upgrades. Zacks reports that LMT has earned 9 "buy" ratings and 7 "holds." Any upgrades from the remaining holdouts could help to boost the shares.