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Shares of the Raytheon Company (NYSE:RTN) rose Friday on news that the United States fired 59 of the defense contractor’s Tomahawk cruise missiles at forces loyal to Syrian President Bashar al-Assad, retaliation for the dictator’s use of chemical weapons on U.S.-backed rebel forces.
The Missile Strike
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The missiles targeted the Shayrat airbase near Homs. President Donald Trump said the targeted airfield had launched the chemical attack Tuesday on a rebel-held area.
Raytheon stock shot up to $156.75, roughly a 5-percent jump, before trailing off.
"On Tuesday, Syrian dictator Bashar al-Assad launched a horrible chemical weapons attack on innocent civilians. Using a deadly nerve agent, Assad choked out the lives of helpless men, women and children. It was a slow and brutal death for so many. Even beautiful babies were cruelly murdered in this very barbaric attack," Trump said Thursday night.
A U.S. defense official called the U.S. strike a "one-off," Reuters reported. Nine civilians including four children were killed, the Syrian state news agency claimed.
The U.S. Navy’s Sixth Fleet, headquartered in Naples, has two destroyers, the USS Porter and the USS Ross, in the eastern Mediterranean that could shoot a barrage of Tomahawk cruise missiles into Syria.
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Israel Uses Advanced Outer-Space Missile Produced With Boeing________Image Credit: Tomahawk Block IV cruise missile during a flight test (US Navy), By U.S. Navyderivative work: The High Fin Sperm Whale - Tomahawk_Block_IV_cruise_missile.jpg, Public Domain, via Wikimedia Commons
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.