Boeing Shares Soar On US Deal To Triple Patriot Seeker Output

Boeing Co. shares rose as much as 5.6% after the Pentagon announced a framework deal with the company to triple production of a crucial Patriot missile component over seven years.

The Arlington, Virginia-based aerospace and defense manufacturer is the latest company to benefit as the Trump Administration seeks to rapidly accelerate production of missile interceptors to replenish stocks depleted by conflicts in the Middle East and Ukraine.

Boeing would raise output of its PAC-3 seekers to about 2,000 units a year from roughly 650, matching the Pentagon’s target capacity under an earlier deal with Lockheed Martin Corp., according to ...