Boeing scored a contract to build the Pentagon’s next-generation jet fighter, beating out rival Lockheed Martin. The deal has big implications for Boeing’s bottom line, its beleaguered defense unit and the jet maker’s strained relationship with the Trump administration.

Shares of Boeing rose nearly 5% after the U.S. company beat out Lockheed Martin LMT.N for the deal. Lockheed's shares fell nearly 7%.

Boeing won a contract to design and build the U.S.’s next-generation stealth fighter jet, beating out rival Lockheed Martin Corp. for the multibillion dollar program aimed at preparing the