Boeing Co. (NYSE: BA) shares are trading higher on Wednesday following the announcement of a significant defense contract. The Pentagon has awarded Boeing the full-scale development contract for the U.S. Navy’s F/A-XX next-generation stealth fighter. This program is intended to replace the Navy's F/A-18E/F Super Hornets and EA-18G Growlers in the 2030s.
The contract is valued at more than $20 billion. Boeing secured the deal by beating out Northrop Grumman. Pentagon acquisition chief Michael Duffey described the aircraft as a "crucial, non-negotiable investment" in U.S. air combat capability. Boeing Defense CEO Steve Parker noted that the company’s facility investments leave it ready to execute the program.
This victory marks Boeing’s second sixth-generation fighter win in two years. In 2025, the company beat out Lockheed Martin for the Air Force’s F-47 contract, a similarly sized deal north of $20 billion. This latest contract cements Boeing’s role as the primary contractor for both the Air Force and Navy’s next-generation jet programs. Reuters has reported that the contract’s total value could eventually climb into the hundreds of billions as manufacturing ramps up and international buyers potentially sign on.
Despite the contract news, Boeing’s technical chart remains in a longer-term repair phase. Shares are trading well beneath their 20-day, 50-day, and 200-day moving averages. A "death cross" took shape in September when the 50-day average slipped under the 200-day average, indicating an intermediate trend that has been struggling. Momentum indicators, such as the MACD line, are also running below their signal lines.
At the time of publication on Wednesday, Boeing shares were up 1.10% to $189.75. Key levels to watch include $215.50, near the 50-day average where rebounds have tended to run out of steam, and $187.50, viewed as a floor where buying interest has shown up previously.
