RTX Corporation - RTX STOCK NEWS

On January 25, 2021, Pratt & Whitney, a division of Raytheon Technologies (RTX), announced a significant deal with Frontier Airlines for the supply of GTF engines to power 134 Airbus A320neo family aircraft. The contract includes 49 A320neo, 67 A321neo, and 18 A321XLR aircraft with deliveries starting in 2022. Furthermore, Pratt & Whitney will provide long-term maintenance through its EngineWise® service agreement. This partnership aims to enhance fuel efficiency, leading to operational cost reductions for Frontier.

Raytheon Technologies (NYSE: RTX) has appointed Michael Dumais as chief transformation officer to lead business transformation initiatives over the coming year. Having joined United Technologies Corporation in 1998, Dumais will report to CEO Gregory Hayes and oversee corporate strategy and development. His focus will be on enhancing operational efficiencies and reducing costs, particularly in light of challenges in the commercial aerospace sector. Dumais aims to leverage the company’s scale and capabilities to drive growth and improve value for stakeholders.

Raytheon UK, a subsidiary of Raytheon Technologies (NYSE: RTX), secured a £200 million contract to enhance training solutions for the Royal Navy over 12 years. The deal, in partnership with Capita, aims to modernize training processes and technologies, aligning with the Navy's transformation goals. Jeff Lewis, CEO of Raytheon UK, emphasized the commitment to deliver tailored, tech-driven training, enhancing agility within the Armed Forces. Rear Adm. Phil Hally noted it as a major milestone in Navy modernization, aiming to improve operational readiness and expedite frontline training.

Raytheon Technologies (NYSE: RTX) will announce its fourth quarter 2020 earnings on January 26, prior to market opening. A conference call is scheduled for 8:30 a.m. ET, where a corresponding presentation will be available on the company’s website. Analysts can join the call by dialing (866) 219-7829 between 8:10 a.m. and 8:30 a.m. ET. The call will also be accessible via live stream on the internet and will be archived for later playback. The company specializes in advanced aerospace and defense systems for various sectors worldwide.

Blue Canyon Technologies (BCT) has been acquired by Raytheon Technologies (NYSE: RTX), enhancing its position in the aerospace sector. The integration will allow BCT to expand its small satellite solutions, including nanosatellites and microsatellites, meeting growing market demands. BCT is currently building over 90 spacecraft for various missions and has recently expanded its operational capabilities with a new 80,000-square-foot facility in Colorado. This strategic acquisition aims to leverage Raytheon's advanced technology to further transform the space industry.

Raytheon Technologies (NYSE: RTX) announced a new share repurchase program authorizing the buyback of up to $5 billion of its common stock. This initiative replaces the previous program from October 2015 and will be executed at the company's discretion, depending on market conditions. The firm emphasizes that there are no obligations to purchase shares under this program, and repurchases may be discontinued at any time. The announcement reflects the company's commitment to enhancing shareholder value.

Raytheon Intelligence & Space and C3.ai have formed an alliance to develop AI solutions tailored for aerospace and defense missions, particularly benefiting the U.S. Air Force and intelligence community. This partnership aims to leverage AI to enhance data utilization for smarter, faster decision-making on the battlefield. Their collaboration combines Raytheon’s defense expertise with C3.ai’s AI development capabilities, facilitating rapid deployment and scaling of innovative solutions. This initiative is expected to significantly reduce costs and risks while accelerating AI adoption across military operations.

On November 17, 2020, Raytheon Technologies announced a historic achievement where its SM-3® Block IIA ballistic missile defense interceptor successfully intercepted an intercontinental ballistic missile target outside Earth's atmosphere. This demonstration, part of a Missile Defense Agency initiative, showcases a new defense layer against long-range threats. The SM-3 interceptors have executed more exo-atmospheric intercepts than all other missile systems combined. Raytheon’s missile defense integrates sensors, effectors, and command capabilities, enhancing defense systems for the U.S. and its allies.

Labaton Sucharow announces an investigation on behalf of purchasers of Raytheon Technologies Corp. (RTX) securities following a subpoena from the U.S. Department of Justice. The subpoena, dated Oct. 8, requests records related to the company's missile business dating back to 2009, focusing on accounting and reporting matters. Additionally, Raytheon received a second subpoena from the U.S. Securities and Exchange Commission concerning a separate probe. As a result, Raytheon's stock dropped 7.4% to $52.34 amidst high trading volume.