On September 30, Northrop Grumman fell 3.68% in pre-market trading, trading at $486.68/share, with Turnover of $276,100. The decline was triggered by the Pentagon's announcement that Boeing has been selected to build the US Navy's next-generation stealth fighter jet, defeating Northrop Grumman for the $20 billion development contract.

The contract covers the production of test aircraft for the Navy's sixth-generation fighter program. Notably, Boeing also secured the US Air Force's new stealth F-47 fighter jet contract in March last year, meaning Boeing has now won both landmark sixth-generation fighter contracts in consecutive years. The loss represents a significant setback for Northrop Grumman's air dominance portfolio, which includes tactical fighter and strategic long-range strike aircraft systems.

Despite this contract loss, Northrop Grumman maintains a robust $105 billion backlog as of Q2, supported by recent wins including a $4.84 billion Army countermeasure contract and a $30 billion milestone missile interceptor production deal. The company is scheduled to report Q3 earnings on October 20, with analysts expecting EPS of $7.26.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)