Boeing Wins $20 Billion F/A-XX Fighter Jet Contract; Northrop Grumman Falls

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4▲3 ▼4Impact / 5
Summary · why it matters

Boeing secured a $20 billion contract with the defense department to develop the next generation of fighter jets, sending its shares up 2% premarket. The deal covers development of the Sixth-Generation F/A-XX Strike Fighter, while Northrop Grumman, reportedly also in contention for the contract, tumbled 3.5%. Robinhood Markets rose 2% after announcing an in-app AI agent for its traders, plans to launch 24/7 trading for certain stocks, and the introduction of perpetual futures to its U.S. users soon. Moderna declined more than 6% after Citi downgraded the stock to sell, with analysts setting a price target 60% below Tuesday's closing price and saying the current valuation can't be justified. Concentrix fell 9.5% after fiscal third-quarter revenue came in slightly below expectations, with non-GAAP earnings per share and current-quarter revenue guidance also below estimates, and the company said on its earnings call that its AI transition is pressuring revenues. Cal-Maine Foods tumbled more than 6.5% after reporting a wider-than-expected fiscal first-quarter loss of $1.26 per share versus the 77-cent loss analysts polled by FactSet expected, while FormFactor rose 1% after Deutsche Bank initiated coverage with a buy rating, citing rising chip testing intensity and its position as the second source of probe cards for Nvidia's GPUs at TSMC.

Impact on assets 11

Defense & Geopolitical Fragmentation± Mixed · 2 stocks
The Boeing Company
BA
▲ PositiveDemandrelevance

Boeing won a $20 billion defense contract to develop the Sixth-Generation F/A-XX Strike Fighter.

Northrop Grumman Corporation
NOC
▼ NegativeCompetitionrelevance

Northrop Grumman, reportedly also in contention, lost the $20 billion F/A-XX fighter jet contract to Boeing and fell 3.5%.

Artificial Intelligence▼ · 2 stocks
Concentrix Corporation
CNXC
▼ NegativeCapitalrelevance

Concentrix fiscal Q3 revenue missed expectations and EPS and current-quarter guidance also came in below estimates.

Semiconductors▲ · 2 stocks
FormFactor Inc
FORM
▲ PositiveCapitalrelevance

Deutsche Bank initiated coverage of FormFactor with a buy rating, citing rising chip testing intensity and its probe-card position for Nvidia GPUs at TSMC.

Digital Finance & Tokenization▲ · 2 stocks
Robinhood Markets Inc
HOOD
▲ PositiveTechnologyrelevance

Robinhood announced an in-app AI agent for traders, plans for 24/7 trading on certain stocks, and perpetual futures for U.S. users.

Consumer Staples▼ · 1 stocks
Cal-Maine Foods Inc
CALM
▼ NegativeCapitalrelevance

Cal-Maine reported a wider-than-expected fiscal Q1 loss of $1.26 per share versus the 77-cent loss expected.

Biotech & Genomic Medicine▼ · 1 stocks
Moderna Inc
MRNA
▼ NegativeCapitalrelevance

Citi downgraded Moderna to sell with a price target 60% below the prior close, citing unjustifiable valuation.

Financials▲ · 1 stocks
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