Raytheon Co. (RTN) Friday announced a $338 million contract awarded by the U.S Navy to build and deliver the Tomahawk Block IV cruise missiles, and provide warranties, flight test and life-cycle support.
Tomahawk Block IV is a surface and submarine-launched, cruise missile and is used for attacking a variety of surface targets. Production is scheduled to begin this year. The contract also includes replenishment of weapons used during army's operation.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.