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Boeing Awarded Up to $162.97M B-52 Contract
Boeing has been awarded a maximum $162.97M cost-plus-incentive-fee, cost-plus-fixed-fee, cost-reimbursement, and firm-fixed-price delivery order under an existing indefinite-delivery/indefinite-quantity contract for B-52 production and sustainment. This contract provides for the manufacturing, production, kitting, and delivery of B-52 Bomb Rack Modernization System kits in support of the B-52 Radar Modernization Program. Work will be performed at San Antonio, Texas, and is expected to be completed by Dec. 20, 2028. This contract was a sole-source acquisition. FY26 aircraft procurement, Air Force funds in the amount of $34.95M are being obligated at time of award. The Air Force Life Cycle is the contracting activity.
Major Averages Slightly Higher, Chip Stocks Benefit from Nvidia Earnings
The major averages were fractionally higher near noon, with chip stocks moving higher ahead of Nvidia's upcoming earnings print as well as key inflation data due Wednesday. Meanwhile, the U.S. has begun imposing tougher sanctions on Iran and is threatening countries that continue trading with Tehran, but crude prices have eased. WTI crude is hovering around $82 a barrel, continuing a downward trend that began late last week. In other geopolitical news, the North American trade war heated up as Canada is matching Trump's weekend tariff escalation with a sweeping package of counter tariffs that directly targets U.S. steel, aluminum and downstream manufacturing.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Dick's Sportingreportedand cut its FY26 earnings and revenue guidanceUnited Airlinesaddedacross Europe and AsiaMcKessonPrecision Medicine Group for roughly $2.25BBoeinghas been awarded afor the F-15 Eagle CrestTeslahas increased U.S. Cybertruck prices,2. WALL STREET CALLS:AMDto Strong Buy from Outperform at Raymond JamesLoop CapitalFive Belowwith bullish view priced inDynatraceto Overweight at Morgan StanleyKlarnato Peer Perform at Wolfe ResearchShift4 Paymentsto Overweight at Wells Fargo3. AROUND THE WEB:Ukrainian officials say Russia has used readily available NvidiaJetson Orin modules in fully autonomous AI-guided drones, highlighting how civilian Nvidia hardware can reach military applications through resale markets despite the company not selling directly in Russia, NY Times reportsSoftBankis planning a record Y1T, or $6.3B, retail bond sale to raise funds for its investment commitments to OpenAI, Bloomberg saysTaiwan prosecutors have indicted nine people, including employees from Nvidiaand Super Micro, for their involvement in the illegal export of AI servers to China, Reuters reportsShellhas attracted interest from ExxonMobiland LyondellBasellfor its underperforming U.S. chemicals assets, including the $14B Monaca complex, as it seeks to streamline its portfolio, FT saysJack Ma, the founder of Alibaba, has bought more than HK$600M worth of the company's Hong Kong-listed shares on consecutive days, SCMP reports4. MOVERS:Richtech Roboticsincreases after announcing aMadison Airgains after announcing aModernahigher after Wolfe Researchthe stock to Peer PerformGorilla Technologyfalls in New York afterand providing guidance for FY27Target) lower afterrelated to its Halloween costume following backlash5. EARNINGS/GUIDANCE:Vipshopand provided guidance for Q3Scotiabank, with EPS and revenue beating consensusCiti Trendsand raised its outlook for FY26SelectQuote, with CEO Tim Danker commenting, "It was a highly successful 4th quarter and full-year fiscal 2026 for our business"Marzetti, with EPS beating consensusINDEXES:Near midday, the Dow was up 105.54, or 0.20%, to 53,522.70, the Nasdaq was up 155.86, or 0.60%, to 26,136.05, and the S&P 500 was up 21.12, or 0.28%, to 7,673.98.
Tech Stocks Rebound, S&P 500 Futures Up 0.35%
Stock futures are pointing to a stronger open as technology stocks rebound from Monday's selloff. The bond market is providing some relief. The 10-year Treasury yield has slipped to around 4.67%, while the 30-year yield is around 5.21%, after the long-end of the curve came under significant pressure last week. The market is also looking ahead to Wednesday's PCE inflation report. Economists expect monthly headline PCE to rise 0.1% after falling 0.1% in June.The U.S. has begun imposing tougher sanctions on Iran and is threatening countries that continue trading with Tehran, but crude prices have eased. Brent is around $88 a barrel and WTI around $82, giving stocks some relief from the inflation concerns that pushed oil higher last week.In pre-market trading, S&P 500 futures rose 0.35%, Nasdaq futures rose 0.75% and Dow futures rose 0.39%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Kura Oncologyup 9% after disclosing that its CEO Troy Wilson bought 100K shares of common stock on in a total transaction size of $1.11MNavitas Semiconductorup 5% after signing a definitive agreement to acquire Claros in deal valued at up to $232.8MUnited Airlinesup 3% after announcing the largest international network expansion in company history with 10 new international cities and three new routes across Europe and AsiaAMDup 2% after Raymond James upgraded the stock to Strong Buy from Outperform with a price target of $641, up from $565Boeingup 1% after being awarded a $131.23B ceiling, indefinite-delivery/indefinite-quantity contract for the F-15 Eagle CrestUP AFTER EARNINGS -Scotiabankup 2%DOWN AFTER EARNINGS -Dick's Sportingdown 15%Vipshopdown 3%Citi Trendsdown 1%
Tech Weakness Weighs on S&P 500 and Nasdaq
Fragile sentiment in the tech space weighed on broader indices as S&P 500 and Nasdaq Composite begin the final full week of August with a loss. Semiconductors and memory stocks were the hardest hit on Monday as investors digest capital return announcement from Samsunglate last week, fret about press reports that Nvidiahas flagged price hikes, and also position for Nvidia earnings, PCE inflation, and Fed Chair Wash speech at Jackson Hole this week. Technology and Industrials were the worst-performing sectors in the benchmark index. In turn, Consumer Defensive names outperformed, with traders rotating into discount retail giants that fell out of favor last week on disappointing results - Walmartwas up 2.7% and Costcowas up 2.5%. Credit Services was also strong as Visaand Mastercardboth gained over 3% on Monday.In the opening hour of the evening session index futures are a little changed - S&P e-minis and Nasdaq 100 contracts are just above 7,670 and 29,100 respectively. In commodities, WTI Crude Oil continues to trade in a narrow band in the mid-$80s. Precious metals however have sustained their furious rebound - Gold prices were at 3-month highs near $4,740 and Silver is targeting a breach above $70 per ounce.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER -Kura Oncologyup 6.3% after insider buyHerc Holdingsup 1.5% after insider buyVistraup 0.9% after insider buyBoeingup 0.4% after $131B USAF contractDOWN AFTER EARNINGS -Gorilla Technologydown 9.0%PicS N.V.down 2.7%ALSO LOWER -Daqo New Energydown 1.9% after Goldman Sachs downgradeTrade Deskdown 1.0% after mixed shelf offering
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