Tanker Deal Helps Stocks Takeoff

Font Size By The Associated Press
.

M60o93H7pQ09L8X1t49cHY01Z5j4TT91fGfr Tanker Deal Helps Stocks Takeoff
Published: Mon, March 03, 2008 - 8:05 pm
Last Updated: Tue, March 04, 2008 - 11:45 am
PARIS (AP) - Shares of Airbus' parent company surged today after
the French planemaker snatched a $40 billion U.S. Air Force
contract from its American rival, Boeing.
Shares of EADS rose 7.4 percent to $28.39 at midday in Paris.
EADS and its partner, Northrop Grumman, won the contract to
build military refueling planes Friday, one of the biggest Pentagon
contracts in decades.
The tanker frame is to be based on the Airbus A330 passenger
jet, and will be assembled in Mobile. Civilian Airbus A330
freighters also will be built in Alabama's Port City.
Shares of Northrop Grumman were up 3.4 percent, or $2.65, to
$81.26 in premarket trading.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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