Why GE Aerospace Stock Topped the Market Today
On news of a new contract with a rock-steady arm of the U.S. government, investors loaded up on storied industrial company GE Aerospace (NYSE: GE) stock during Monday's trading session. The company's shares closed the day 2.5% higher, notching a convincing beat over the bellwether S&P 500's (SNPINDEX: ^GSPC) 0.6% increase.After the market close on Friday, GE Aerospace announced it signed a contract with the U.S. Air Force worth up to $5 billion. This is an indefinite delivery/indefinite quality agreement for the global supply of the company's F110-GE-129 engines that power the F-15 and F-16 aircraft used by numerous American allies throughout the world. In the press release touting the latest deal for the engine, GE Aerospace didn't hesitate to point out that the F110 has logged over 11 million flight hours in total. It has also been in production for more than 40 years, and according to its maker, produces the most thrust in its class.Continue reading
On news of a new contract with a rock-steady arm of the U.S. government, investors loaded up on storied industrial company GE Aerospace (NYSE: GE) stock during Monday's trading session. The company's shares closed the day 2.5% higher, notching a convincing beat over the bellwether S&P 500's (SNPINDEX: ^GSPC) 0.6% increase.
After the market close on Friday, GE Aerospace announced it signed a contract with the U.S. Air Force worth up to $5 billion. This is an indefinite delivery/indefinite quality agreement for the global supply of the company's F110-GE-129 engines that power the F-15 and F-16 aircraft used by numerous American allies throughout the world.
In the press release touting the latest deal for the engine, GE Aerospace didn't hesitate to point out that the F110 has logged over 11 million flight hours in total. It has also been in production for more than 40 years, and according to its maker, produces the most thrust in its class.
