Today’s Market Movers: Boeing, GameStop, Robinhood and Micron Stocks in Focus
TLDR
- Boeing stock rose about 3% Wednesday after landing a Navy fighter jet contract worth roughly $20 billion.
- Northrop Grumman stock fell about 4% after losing the same competition.
- Ameriprise Financial stock dropped 9% despite announcing a $5.5 billion buyback.
- GameStop stock climbed after CEO Ryan Cohen bought 450,000 shares.
- Concentrix stock slumped 11% after missing third-quarter revenue targets.
Boeing stock climbed about 3% before Wednesday’s opening bell. The move came after the plane maker won a multibillion-dollar contract to build the Navy’s next-generation carrier-based fighter jet.
The deal is worth roughly $20 billion. It marks Boeing’s second major sixth-generation fighter win in two years, following its 2025 selection to build the Air Force’s F-47.
Northrop Grumman lost out on the same contract. Its stock fell about 4% on the news.
What The Navy Contract Means
The fighter program is currently known as F/A-XX. It’s expected to become a key part of the Navy’s Next Generation Air Dominance system.
The contract covers development of test aircraft. Eventually, the jet is meant to replace the aging Super Hornet fleet.
This was one of the Pentagon’s largest combat-aircraft competitions in recent memory. Boeing beat Northrop Grumman to secure it.
Elsewhere in the market, Ameriprise Financial stock dropped 9% Wednesday. The drop came even after the company’s board approved an additional $5.5 billion for buybacks.
The new authorization runs through September 30, 2028. As of June 30, Ameriprise still had about $1.1 billion left from an earlier 2025 buyback plan.
GameStop stock rose about 1% after a fresh insider filing. CEO Ryan Cohen bought 450,000 shares of common stock on Tuesday at $23.48 each.
Robinhood stock advanced roughly 2%. The trading platform announced at a Houston summit that it will roll out AI agents capable of trading on users’ behalf.
Robinhood also said it plans to launch 24/7 weekend trading for equities. No firm launch date was given.
Other Movers On Wednesday
Concentrix stock slumped 11% after the outsourcing company missed analysts’ third-quarter revenue target. The company pointed to a costly shift toward AI-powered tools as a factor.
Amentum stock rose 2% after a UK subsidiary of the company, Sellafield Ltd, picked an Amentum joint venture as preferred supplier. That asset care program is valued at up to $2.78 billion.
Pyxis Oncology stock fell 3.5% after pricing a public stock offering. The deal is expected to raise about $110 million through 36.05 million shares and accompanying warrants.
Broader market futures were mixed Wednesday. Investors watched Treasury yields, which had eased after a recent run-up.
Traders were also weighing whether falling oil prices might give the Federal Reserve room to hold interest rates steady next month. Several companies, including Micron, Conagra Brands, and FactSet, were set to report earnings during the session.
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