US defense contractors Raytheon, Boeing, Lockheed Martin, Northrop Grumman and General dynamics noticed surge in their shares following tomahawk missile strikes by Donald Trump government on Thursday.
Raytheon's stock surged to 2.5% Friday morning after 59 of the company's Tomahawk missiles were used to strike Syria in Donald Trump's major military operation on April 6, adding more than $1 billion to the defense contractor's market capitalization, Fortune reported friday.
The shares of other missile and weapons manufacturers, including Boeing, Lockheed Martin, Northrop Grumman and General Dynamics, each rose as much as 1%, collectively gaining nearly $5 billion in market value as soon as they began trading, even as the broader market fell.
US government commanded airstrikes against Syria Thursday night as response to a fatal chemical weapons attack on civilians earlier this week. The chemical attack has taken lives of 100 people. US government blamed Syrian President Basher-Al-Assad for the cause.
The technology and equipment of the defense companies, which all have contracts with the US government were likely also used in Trump's airstrikes on Syria.
Lockheed Martin, for example, makes the Tactical Tomahawk Weapons Control System, one part of a three-pronged system needed to launch the missile; the product calculates the trajectory from a ship to the target. General Dynamics also makes technology used to fire Tomahawk missiles.
Boeing, meanwhile, makes other types of cruise missiles. Defense contractor stocks have risen in the months since Trump was elected, spurred by his promises of a "historic" increase in US military spending.
The budget that the President Donald Trump proposed last month includes an additional $52 billion for the Department of Defense. Boeing stock has gained nearly 21% since the election, while General Dynamics stock is up 14% over the same period.
Raytheon was awarded a $59.6 million contract for the Multi-Object Kill Vehicle (KV) technology risk reduction (TRR) effort
Raytheon has won a $17.8 million contract to upgrade the APG-79 radar for the US Navy and the government of Australia
Raytheon has won an $11.8 million contract from US Office of Naval Research to develop networking technologies enabling greater sensor interconnectivity and enhancing integrated fires capabilities for naval operations
Raytheon Integrated Defense Systems has won a $7.8 million US Navy contract to provide Signal Processor Alteration (ORDALT) kits in support of the Aegis anti-ballistic missile system Modernization (AMOD) program
Russia will build a new electronic warfare system to counter cruise missiles after gathering data from two un-exploded US-made Tomahawk missiles which it obtained in Syria. The US-led coalition had launched a missile attack against suspected Syrian chemical weapons sites earlier this year
Raytheon has won a more than $119-million contract to advance the targeting and communications functions of the Tomahawk Block IV sea-launched cruise missile. "Raytheon Co
Raytheon is currently working with the US Navy to develop a multi-mode seeker to enable Tomahawk missiles to hit moving targets at sea, the company president said. “Raytheon will continue to upgrade the Tomahawk to meet emerging threats, citing current work with the Navy to develop a multi-mode seeker to enable the Tomahawk to hit moving targets at sea,” Raytheon Missile Systems President Taylor Lawrence was quoted as saying by a local daily,
US Air Force has started special training protocols to improve Pentagon employees' way of communicating their case when dealing with foreign weapons buyers and also to understand exactly their requirements. The move was taken in the wake of increasingly time-consuming and unsatisfying negotiations between foreign weapons buyers and US weapons sellers, and the Pentagon
Syria is negotiating to buy missile defense systems from Russia to defend itself agaist Israeli and American attacks. “It is natural for us to negotiate with the Russians now with a view to strengthening (our) systems, whether to face any Israeli threats from the air or the threats of American missiles,” Syrian President Bashar al-Assad in an interview to Venezuelan channel Telesur
The Free Syrian Army (FSA) has struck down a military aircraft in the northern Hama region Sunday. The FSAs ‘Jaysh Al-Nasr targeted the Hama Military Airport firing more than 40 grad rockets destroying a MIG-23 fighter jet parked near one of the targeted ammunition depots,
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