Saturday, August 31, 2013

Raytheon Stock Skyrockets With Talk of U.S. Intervention in Syria

Raytheon, the Waltham based military defense corporation, saw its stocks reach an all-time high this week after talks of a possible U.S. missile attack on Syria. The military attack is in response to allegations of a chemical weapons attack by Syria President Assad on his own people.
Currently, Raytheon's stock is trading at $75.50 per share, up 44 percent since its 52-week low in February. In the last month alone, Raytheon's stock shot up 6 percent.
On August 13, Raytheon received a $200.5 million weapons order from the U.S. military and five of its allies.
The massive contract will see Raytheon supply 532 AIM-9X Sidewinder air-to-air missiles and training to the U.S. Navy and Army as well as Malaysia, Morocco, Oman, Kuwait, and Saudi Arabia.
The Obama administration is very familiar with Raytheon. According to a report by Politico, a White House budget submission for 2013 requested 196 Tomahawk missiles, and the Tomahawk cruise missile is said to be "President Barack Obama’s weapon of choice." The total cost of the program was $320 million.

Comments made Friday by U.S. Secretary of State John Kerry further reinforced what most are expecting: U.S. military action. President Obama, however, has stated that no troops will touch the ground in Syria.

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