Trump picks Boeing over Lockheed for fighter jet contract

Reuters was first to report on Friday that U.S. President Donald Trump awarded Boeing a contract to build the U.S. Air Force’s most sophisticated fighter jet yet, the next generation F-47. Boeing shares rose 5% on the news from Reuters, while shares of Lockheed, which was the other competitor for the contract, fell nearly 7%. For Boeing, the win marks a reversal of fortune for a company that has struggled on both the commercial and defense sides of its business. For Lockheed it was yet another disappointment for its fighter jet business.

The post Trump picks Boeing over Lockheed for fighter jet contract appeared first on Reuters Best.