Boeing Strategically Withdraws From Air Force $60 Billion Nuclear Missile Program

Boeing (NYSE: BA) has reversed course and decided not to compete for a $60 billion contract to replace the Air Force's intercontinental ballistic missiles, leaving Northrop Grumman (NYSE: NOC) as the sole remaining bidder involved in the government's massive Ground Based Strategic Deterrent (GBSD) contest.

The decision caught watchers off guard. Only days earlier, during the company's second-quarter earnings call, Boeing CEO Dennis Muilenburg had said, "[W]e are focused on leveraging our work to date on GBSD to help deliver this essential national security capability."

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