PAE - PAE stock gains after bagging position on $950M Air Force IDIQ contract

PAE (PAE) has been selected by the U.S. Air Force as one of 22 contractors on an indefinite delivery, indefinite quantity contract vehicle valued at up to $950M to support foreign military sales transactions. PAE will provide services that include engineering assessments, hardware procurement, integration of aircraft and intelligence, surveillance and reconnaissance sensors and contractor logistics support for foreign military fleets of fixed- and rotary-wing aircraft and intelligence, surveillance, and reconnaissance systems. The 13-year contract includes a 10-year ordering period followed by an additional three-year period of performance.Shares up 4.3% premarket.

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PAE stock gains after bagging position on $950M Air Force IDIQ contract