Raytheon Unit Gets $29.4 Million Navy Contract For Air, Missile Defense System

Jul 22, 2008 (financialwire.net via COMTEX) -- RTN | Quote | Chart | News | PowerRating -- July 22, 2008 (FinancialWire) The Pentagon said that a unit of defense contractor Raytheon Co. (NYSE: RTN | Quote | Chart | News | PowerRating) has received a $29.4 million contract from the Navy to provide a new capability for a naval air and missile defense system.

The Cooperative Engagement Capability is a sensor-based system that uses high-quality tracking data and distributes it to all other participants to create a common air defense tactical display.

Shares of Waltham, Mass.-based Raytheon added 92 cents to close at $57.09 Monday.

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