🔴 Northrop Grumman is trading 4.3% down today after Boeing wins Navy’s F/A-XX development contract

Northrop Grumman is trading 4.3% lower at $482.96 after losing the Navy’s F/A-XX fighter development contract to Boeing.

• The Navy selected Boeing on September 29 for the $20 billion contract; Reuters reported Northrop shares fell 3.5% in extended trading after the announcement.
• The loss removes Northrop from a major next-generation fighter competition, and the decline continued in early trading on September 30.
• Volume data was not provided.