AEROSPACE

CalPERS Backs Lockheed Merger: The big shareholder, which had objected the loudest to aspects of the merger between Lockheed Corp. and Martin Marietta Corp., said it will support the creation of the nation’s largest military contractor. But the California Public Employees Retirement System, which owns a 1.4% stake in Martin Marietta and 0.6% of Lockheed, said it will vote against a proposed incentive package for Lockheed Martin Corp. employees. The plan would set aside 12 million shares--about 6% of the outstanding shares of the new company--to be awarded during the next five years in stock options and cash payouts.