Boeing's stock surged by 5.7% in the afternoon trading session following the company's successful bid to manufacture the next generation of fighter jets for the U.S. military, notably beating out rival Lockheed Martin. The contract, referred to as Next Generation Air Dominance (NGAD), aims to produce F-47 jets that will work alongside drone aircraft to bolster U.S. defense capabilities against adversaries. The contract's value is estimated at around $20 billion.
Despite the initial spike, the shares eventually settled at $180.22, representing a 4.3% increase from the previous day's closing price.
Boeing's stock typically shows low volatility, experiencing only a few significant movements exceeding 5% in the last year. Today's upturn suggests that the market views this development as significant, although it may not drastically alter its perception of the company's operations.
In a recent noteworthy event, Boeing's stock rose by 7% two days ago following positive statements from CFO Brian West regarding the company's financial status during an investor conference. West indicated that the business was on track with expectations, particularly in terms of delivering 787 jets by March 2025, similar to the previous month. These updates hinted at potential stabilization in the company's operations.
Since the start of the year, Boeing's stock has risen by 4.9%, currently trading at $180.22 per share, near its 52-week high of $192.99 recorded in March 2024. Investors who purchased $1,000 worth of Boeing shares five years ago would now see an investment valued at $1,706.
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