Boeing secured a contract to build the U.S. Air Force's latest fighter jet
President Donald Trump awarded Boeing Co (NYSE:BA) a contract to build the U.S. Air Force's latest fighter jet, named F-47. The update is pressuring Boeing's competition, with Lockheed Martin (LMT) drawing bear notes. Meanwhile, shares of sector peers Northrop Grumman Corp (NYSE:NOC) and General Dynamics Corp (NYSE:GD) are enjoying tailwinds.
BA was last seen up 1.9% to trade at $181.47, its highest level in over a month. The shares are bouncing off a pullback that sent the stock to its lowest level since November, and could today notch their fourth-straight daily pop, after yesterday surging back above the 60-day moving average. BA added 16.4% in the last six months.
NOC is up 0.1% to trade at $491.38 at last check, with all eyes on the launch of its crewless Cygnus spacecraft off the International Space Station on Friday. The security rose 14.4% in the last nine months, but failed to conquer overhead pressure at the $510 region.
Trimming its 14.4% six-month deficit, GD was last seen up 0.2% at $263.91. The shares just successfully retested the $260 level, which provided a floor earlier this month. The 20-day moving average is also providing support, after the stock conquered it on a rally off its Feb. 14, more than 52-week low of $239.87.