President John F. Kennedy directs that the Northrop SM-62 Snark missile be phased out as it is “obsolete and of marginal military value.” The main reason the Snark, the Air Force’s first and only air breathing intercontinental cruise missile, is to be retired is that ballistic missiles are proving more practical and considerably more accurate.
Lockheed Martin projects more than a billion dollars of losses on a classified program, but company officials said April 23 they are confident it will turn profitable by 2028 and become a "franchise" system in the U.S. military.