What happened: Boeing (BA) shares jumped 2% on Wednesday. What's behind the move: The Pentagon selected the aerospace giant over rival Northrop Grumman (NOC) to develop the US Navy's next-generation fighter jet. The contract for the sixth-generation F/A-XX Strike Fighter is worth more than $20 billion for the full-scale development phase, according to the Pentagon. (BA ) Go deeper with AlphaSpace 189.09 +1.41 (+0.75%) As of 10:06:58 AM EDT. Market Open. What else you need to know: The award gives Boeing contracts to develop the next-generation fighter programs for both the US Navy and Air Force. In March 2025, the Air Force awarded Boeing the contract to develop its sixth-generation fighter, officially designated the F-47.
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