INVESTOR'S BUSINESS DAILY 4/27/2017
Raytheon said Thursday that heightened military operations in Syria are lifting the demand outlook for munitions, while more countries in Europe look to acquire its Patriot air-defense system.
Raytheon (RTN) said Thursday that heightened military operations in Syria are lifting the demand outlook for munitions, while more countries in Europe look to acquire its Patriot air-defense system.
Shares of Raytheon got a boost after its Tomahawk cruise missiles were launched at a Syrian air base earlier this month. Each Tomahawk cruise missile costs over $1.5 million.
When asked during a conference call about prospects for a no-fly zone in Syria, Chairman and CEO Thomas Kennedy said the "tempo in Syria is pretty up right now," and the company is "seeing significant demand signals to provide solutions and keep up with replenishment requirements."
Meanwhile, Poland is in contract negotiations with the U.S. government for Raytheon's Patriot system, and the deal, once closed, will net the company more than $4 billion.
Also during the call, an analyst suggested that Romania is one of two other European countries considering the Patriot. Kennedy acknowledged that other countries in Europe are interested but declined to name them, saying only, "We are obviously working with the U.S. government to expedite those as fast as possible."
On Tuesday, Lockheed Martin (LMT) said it expects more missile defense orders from allies abroad.
More:
http://www.investors.com/news/raytheons-q1-tops-on-defense-system-missile-sales-raises-outlook/?src=A00220&yptr=yahoo
