This week, which stocks lagged or dragged? Weekly Winners column keeps up with market trends, helping Tigers sort out the week's hottest sectors, stock winners and important news.
Below are the top 10 S&P 500 stock gainers for the week ended Mar. 21:
Boeing won a contract to design and build the US’s next-generation stealth fighter jet, beating out rival Lockheed Martin Corp. for the multibillion dollar program aimed at preparing the military for possible conflict with China.
The new sixth-generation fighter jet, whose overall cost is expected to run in the hundreds of billions of dollars, “will ensure that the USA continues to dominate the skies,” President Donald Trump said in an unveiling at the White House. Trump, the 47th president, said with a smile that it will be dubbed the F-47.
The award caps more than two years of competition between the defense giants for the full-scale development phase of the Next Generation Air Dominance manned fighter, or NGAD. The jet, which will replace the F-22 Raptor, is envisioned to operate in tandem with drones, which are being developed in a separate program.
While little has been made public about the project, budget figures released last year showed that the Air Force plans to spend as much as $20 billion on NGAD research and development through 2029. Overall costs will be many times that if the most recent stealth jet, Lockheed’s F-35, is any guide. That jet is expected to cost US taxpayers almost $2 trillion by the end of its lifespan.
Southwest Airlines shares rose for seven straight sessions, as the stock was up 1.99% at $34.83 on Friday.
Most recently, the airline announced that bags will no longer fly free. The company is doubling its 2027 cost reduction target to over $1B by 2027 and will end its fuel hedging program.
Evercore ISI said it believes Southwest is making necessary and accretive changes to limit its exposure to low-end fare dilution.
Darden Restaurants recorded higher sales and earnings in the winter quarter as it expanded its footprint and lured cost-conscious diners with popular menu items.
The restaurant operator said Thursday that comparable sales were up slightly for the quarter ended Feb. 23 despite tougher weather conditions. A small gain at Olive Garden and a bigger one at LongHorn Steakhouse more than offset declines at its fine dining chains and other businesses.
Jabil Circuit shares surged to join the S&P 500's top-performing stocks Thursday after the circuit board maker reported better-than-expected earnings and issued an upbeat outlook.
The St. Petersburg, Fla.-based firm posted adjusted earnings per share (EPS) of $1.94 on revenue of $6.73 billion for the fiscal second quarter. Analysts polled by Visible Alpha expected $1.81 and $6.40 billion, respectively.
"In Q2, we exceeded our expectations due to continued strength in our capital equipment, cloud and data center infrastructure, and digital commerce end-markets," CEO Mike Dastoor said.
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