Boeing Stock Rises on $8 Billion Uzbekistan Deal. More Orders May Be on the Way.

Uzbekistan Airways will purchase up to 22 Boeing planes in a deal worth more than $8 billion. (Joe Raedle/Getty Images)

Key Points

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• Boeing stock rises after Uzbekistan Airways orders 14 787-9 airplanes, with options for eight more.
• The Uzbekistan Airways deal, valued at over $8 billion, is expected to support nearly 35,000 U.S. jobs.
• Boeing’s stock also is boosted by news of ongoing negotiations for a significant order from China and potential deals with Turkey.

Boeing stock gained on Tuesday after President Donald Trump said the aerospace company had signed an order from Uzbekistan for planes worth more than $8 billion.

Under the terms of the agreement, Uzbekistan Airways will purchase 14 787-9 airplanes, with the option for eight more. Boeing first announced the deal on Monday, noting that it was the airline’s single largest order to date.

Trump said Tuesday that he had spoken to Uzbekistan President Shavkat Mirziyoyev earlier this month. “President Mirziyoyev is a man of his word, and we will continue to work together on many more items!” Trump wrote in a Truth Social post.

With the purchase, Uzbekistan Airways plans to modernize its fleet and expand its international routes to the U.S. The deal is expected to support nearly 35,000 U.S. jobs, Boeing added.

Shares climbed 1.9% to $216.21 on Tuesday. The benchmark S&P 500 index was down 0.2%.

News of other deals also was boosting the stock. David Perdue, the U.S. ambassador to China, said Tuesday that the U.S. and Beijing were finishing negotiations for a “huge order,” though he declined to share details.

“This is a huge order, and it’s very important to the president,” Perdue said during a press briefing in Beijing. “I think that we’re in the last days of that, weeks of that negotiation.”

Separately, Trump could strike a deal with Turkish President Recep Tayyip Erdogan during a meeting in Washington on Thursday. Bloomberg reported that Turkey aims to purchase of hundreds of Boeing airliners and Lockheed Martin jets while seeking more than $10 billion in local production deals. The companies have yet to confirm or deny the report.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com