Tuesday, January 3, 2012

Boeing (BA) (NOC) Lands $3.5 Billion Contract

Shares of Boeing Co. (NYSE:BA) and Northrop Grumman Corp. (NYSE:NOC) could be poised to jump today after news on Friday the two were awarded a contract worth $3.5 billion from the Defense Department of the United States. The contract extends over a period of seven years.

Losing out in the deal are Lockheed Martin Corp. (NYSE:LMT) and Raytheon Co. (NYSE:RTN), which were battling Boeing and Northrup to land the deal.

The contract is for the purpose of developing, testing, engineering and manufacturing antimissile systems.

Northrop Grumman closed Friday at $58.48, dropping $0.41, or 0.70 percent. Boeing closed at $73.35, falling $0.76, or 1.03 percent.

No comments: