Boeing Secures Up to $2 Billion Air Force Satellite Development Contract
BA sits 23% above its 52-week low of $176.77.
Summary
Boeing secured a contract worth up to $2 billion from the U.S. Air Force for the design and development of two Mobile User Objective System satellites. This win, which includes an initial $204 million for research and development, adds to Boeing's strong recent momentum, following major aircraft orders and plans to boost 737 production. The long-term pact, extending through 2035, significantly bolsters the company's defense segment backlog and provides substantial revenue visibility.
At the time of this announcement, BA was trading at $216.71 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $170.8B. The 52-week trading range was $176.77 to $254.35. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.