GE’s stock rallies after Aviation unit announces $6.8 billion order from Qatar Airways

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Shares of General Electric Co. GE, +2.58% rallied 1.9% in afternoon trading Monday, after the industrial conglomerate said it received an order valued at more than $6.8 billion from Qatar Airways for its GE9X engines. GE Aviation said the order was part of Qatar Airways’ global launch order of 50 of Boeing Co.’s BA, +5.07% 777-8 Freighters. “We are proud to continue building our relationship with Qatar Airways and play a significant role in their growth with this order of Boeing 777-8 Freighter and 777 Freighter aircraft,” said GE Aviation Chief Executive John Slattery. GE’s stock has lost 10.5% over the past three months, while Boeing’s stock has shed 4.0% and the Dow Jones Industrial Average DJIA, +1.17% has slipped 2.4%.

This article was originally published by Marketwatch.com. Read the original article here.

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