I usually have my coffee before the sun comes up....
"Raytheon stock posts top gain in 6 years" by Richard Clough Bloomberg News July 23, 2015
NEW YORK — Raytheon Co. shares posted their biggest gain in more than six years after the company raised its annual sales forecast, signaling a possible end to a revenue slump that began in 2010 at the maker of Patriot missile defense systems.
That's weird because I was told they were on the rebound and things were adding up.
“We’re looking to grow this year, which is a little bit earlier, maybe a year earlier, than our previous expectation,” chief financial officer Toby O’Brien said Thursday.
So what wars are in the offing that we have no clue about? Who is being invaded next?
Raytheon now expects to buy back $1 billion of shares this year, up from a previous estimate of $750 million. The company may also use cash for “niche acquisitions,” O’Brien said.
Now you know why the $tock price ro$e!
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Raytheon has been grappling with shrinking US Defense Department budgets and hadn’t posted an annual sales gain since 2010.
Yeah, boo-hoo-hoo, poor war machine.
The stock surged 6.4 percent to $103.21 at the close in New York, the biggest rally since April 2009, and Raytheon’s quarter included an agreement in April to combine its cyber unit with Vista Equity Partners LLC’s Websense Inc. to expand commercial sales. Raytheon contributed $1.57 billion in net cash for an 80 percent stake in the new firm....
I gue$$ that makes $en$e.
Raytheon announced a $2 billion Patriot order in April with the Kingdom of Saudi Arabia. Patriot orders have supported Raytheon’s expansion in overseas markets....
I'm sure it all ties into Iran, Iraq, Syria (the most likely target), and Yemen.
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