Boeing awarded contract to replace Lockheed F-22 raptor, Reuters reports

Boeing (BA) has been awarded a contract to build Next Generation Air Dominance, a new the U.S. Air Force fighter jet, replacing Lockheed Martin’s (LMT) F-22 Raptor, Reuters’ Mike Stone reports, citing two sources familiar with the situation. The engineering and manufacturing development contract is worth more than $20B, Stone writes. The winner will eventually receive hundreds of billions of dollars in orders over the contract’s multi-decade lifetime, the report adds. Shares of Boeing are up 4% to $179.86, while Lockheed Martin shares are down 4.5% to $445.48 in morning trading.