BUZZ - Boeing's stock rises after securing a $20 billion fighter jet contract from the US Navy

September 30 - ** Boeing (BA.N) shares rose nearly 3% pre-market, trading at $193.22

** The Pentagon said on Tuesday that Boeing has been selected (link) to build the next-generation stealth fighter jet for the US Navy, marking Boeing's second consecutive major win in fighter projects and ending months of delays for this project, which is critical for the US strategy to contain China in the Pacific region

** JPMorgan maintained its "overweight" rating on Boeing, stating that the contract win is significant, but investors should continue to focus long-term on increases in commercial aircraft production and cash flow per plane

** Boeing beat out rival Northrop Grumman (NOC.N) to secure a $20 billion test aircraft manufacturing contract

** Northrop Grumman shares fell about 3% in pre-market trading

** "We don't know much about the more than $20 billion research and development contract Boeing won today, but management has previously said it would remain prudent in pursuing new business, which leads us to believe the company has not taken on excessive risk," the brokerage said

** As of yesterday's close, Boeing's share price has fallen about 13% so far this year

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