GE Aerospace stock drops despite $1.42 billion Navy engine award as earnings loom
GE Aerospace shares fell 2.9% to $314.44 Thursday, extending a pullback from this week’s highs. The U.S. Navy awarded the company a $1.42 billion contract modification for 277 T408-GE-400 turboshaft engines tied to the CH-53K program. Investors are watching Friday’s U.S. payrolls report and GE’s Jan. 22 earnings for direction.