Shares of Boeing Co. (NYSE: BA) rose on Tuesday following the announcement of a new contract from the U.S. Navy. The government awarded Boeing a deal worth up to $20 billion to develop the next-generation fighter jet. This contract marks the company's second major sixth-generation fighter win, following a $20 billion development contract for the Air Force’s F-47 awarded last year.
The Navy contract, known as the F/A-XX program, covers multiple test aircraft and weapons-integration testing. The new aircraft is intended to replace the F/A-18E/F Super Hornet and EA-18 G Growler in the 2030s. Pentagon acquisition chief Michael Duffey described the future aircraft as a "crucial, non-negotiable investment" for the U.S. Navy, intended to dominate contested airspace and extend operational reach.
Boeing beat out defense competitors Northrop Grumman Corp. (NYSE: NOC) and Lockheed Martin for the contract. Lockheed Martin was previously eliminated from the competition, leaving Boeing and Northrop as the two finalists. The award comes after multiple delays and intervention by Congress.
The article also highlights recent stock trading activity by members of Congress. Congressional disclosures show that three members purchased shares of Boeing earlier in 2026, prior to the contract announcement. The purchases, reported under the STOCK Act, are as follows:
- Sen. Alan Armstrong (R-Okla.) purchased shares on March 27, valued between $1,000 and $15,000.
- Rep. Maria Elvira Salazar (R-Fla.) purchased shares on March 19, valued between $16,000 and $65,000.
- Rep. Julia Letlow (R-La.) purchased shares on Feb. 2, valued between $1,000 and $15,000.
Several other members of Congress sold Boeing stock this year, and some likely hold shares purchased prior to 2026. As of the article's publication, Boeing stock was trading at $185.88, down 0.96% on the day and 13.6% year-to-date.
