- Gains in Boeing (BA +1.8%) trailed the broader market today on heavy volume, though it ran its first test flight of the 737 Max (already its most-ordered plane), among other news.
- It won a contract from the Air Force related to replacing current presidential planes known as "Air Force One" with jets based on its four-engine, wide-body 747-8 platform.
- “The presidential aircraft is one of the most visible symbols of the United States of America and the office of the president of the United States,” said Air Force Secretary Deborah Lee James. “The Boeing 747-8 is the only aircraft manufactured in the United States that, when fully missionized, meets the necessary capabilities established to execute the presidential support mission, while reflecting the office of the president of the United States of America consistent with the national public interest.”
- The contract is a $25.8M cost-plus-fixed-fee pact and is a first step in a long process to replace the planes.
- Shares in Boeing are still just 4.4% over their 52-week low of $115.02.