Raytheon stock surged Friday morning, after 59 of the company’s Tomahawk missiles were used to strike Syria in Donald Trump’s first major military operation as President.
The Tomahawk missile used in the strike is made by Raytheon (RTN, +0.49%), whose stock opened 2.5% higher Friday, adding more than $1 billion to the defense contractor’s market capitalization.
The shares of other missile and weapons manufacturers, including Boeing (BA, -2.45%), Lockheed Martin (LMT, -0.08%), Northrop Grumman (NOC, -0.40%) and General Dynamics (GD, +0.08%), 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.
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