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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.