Raytheon stock rockets amid news of Syria strike
The stock price for U.S. defense firm Raytheon jumped close to its highest level Tuesday on Wall Street amid news of possible U.S. military action in Syria.
Raytheon shares were trading at nearly $77 each when U.S. markets opened, coming close to matching its all-time price of $77.93 over the last year for the American defense firm.
Less than an hour before the closing bell, the company’s stock price dipped down to $75.25 a share but remained far higher than $52.24 per share, the stock’s low point over the last year.
Raytheon is the prime manufacturer of the long-range Tomahawk cruise missile, among other weapon systems and components the company develops for the Defense Department.
The Tomahawk has long been a staple for U.S. Navy warships, and were last used to take out targets in Libya during a 2011 operation to oust former dictator Moammar Gadhafi.
Several Arleigh Burke-class U.S. destroyers outfitted with Tomahawk missiles are on station off the coast of Syria, awaiting orders to begin missile strikes against targets inside the country.
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