Boeing and General Dynamics Get New Orders
Thanks to an order for 25 787 Dreamliner planes, Boeing (NYSE:BA) now sees its orders for 2011 bumped into positive territory following cancellations logged earlier that year. This is welcome news after the company’s 9th consecutive loss in net orders to Airbus. Boeing executives named 2012 the “Year of the 737 MAX.”
General Dynamics (NYSE:GD) Advanced Information Systems has earned a $95.9 million contract from the U.S. Navy for manufacturing and deployed-systems support of U.S. and U.K. Trident II submarine strategic weapons systems. This includes the SSGN attack weapon-control system, the SSBN fire-control system, the U.S. SSBN-replacement and the U.K. SSBN-successor common missile compartment. If all options come through, the contract has a top value of $225 million.
Here’s how these two defense stocks are trading on the news:
Boeing Co. (NYSE:BA): BA shares recently traded at $73.59, down $0.74, or 1%. They have traded in a 52-week range of $56.01 to $80.65. Volume today was 5,041,662 shares versus a 3-month average volume of 5,623,530 shares. The company’s trailing P/E is 14.56, while trailing earnings are $5.05 per share.
General Dynamics Corp. (NYSE:GD): GD shares recently traded at $67.36, down $0.76, or 1.12%. They have traded in a 52-week range of $53.95 to $78.27. Volume today was 1,205,054 shares versus a 3-month average volume of 1,898,280 shares. The company’s trailing P/E is 9.48, while trailing earnings are $7.11 per share.
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