Why Enphase Energy Is Up 119% So Far in 2018
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The Boeing Co. BA has won a modification contract, worth $276.3 million, from the U.S. Navy to build and deliver two full-rate production Lot III P-8A Multi-mission Maritime jets. Contracting activity is Naval Air Systems Command, Patuxent River, MD. Work is scheduled to be complete by Feb 2019. The company will carry out the majority of the work in Seattle, WA, while the rest will be performed in Baltimore, MD; Greenlawn, NY; North Amityville, NY; Rockford, IL; Rancho Santa Margarita, CA; Salt Lake City, UT; and various other locations within the continental U.S. as well as in Cambridge, the UK. The contract will use fiscal 2014 and 2016 aircraft procurement (Navy) funds. Boeing’s P-8A Multi-mission Maritime aircraft, also known as Poseidon, is a long-range anti-submarine warfare, anti-surface warfare, intelligence, surveillance and reconnaissance (“ISR”) fighter jet developed specifically for the U.S. Navy. It is also capable of executing broad-area maritime and littoral operations. Boeing witnesses a steady flow of contracts from the Department of Defense. The company is one of the major players in the defense business. The company’s defense business stands out among its peers by virtue of its broadly diversified programs, strong order bookings and order backlog. Total backlog at the end of the fourth quarter 2015 was $489.3 billion. Zacks Rank Boeing currently has a Zacks Rank #5 (Strong Sell). Some better-ranked stocks in the aerospace and defense equipment industry include HEICO Corporation HEI, AeroVironment, Inc. AVAV and Spirit AeroSystems Holdings, Inc. SPR. While HEICO Corporation sports a Zacks Rank #1 (Strong Buy), AeroVironment and Spirit AeroSystems both carry a Zacks Rank #2 (Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BOEING CO (BA): Free Stock Analysis Report SPIRIT AEROSYS (SPR): Free Stock Analysis Report AEROVIRONMENT (AVAV): Free Stock Analysis Report HEICO CORP (HEI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments
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