Boeing Gains 3% on Navy Jet Deal

Boeing's stock rose by 3.1% in pre-market trading after signing a contract valued at over $20 billion with the U.S. Department of Defense and the U.S. Navy to develop the sixth-generation fighter (F/A-XX), which will replace the current F/A-18 aircraft. The fighter will feature open mission systems, advanced systems, and enhanced range and operational capabilities. This comes after Boeing's victory over Northrop Grumman for this contract, which aims to modernize the U.S. military aviation fleet.

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