Australia Buys 200 Tomahawk Cruise Missiles From US
Portfolio Pulse from Shivani Kumaresan
Australia has purchased over 200 Tomahawk cruise missiles from the U.S., manufactured by RTX Corp (NYSE:RTX), to enhance its military capabilities. The deal, worth about A$1.3 billion, comes after the U.S. approved the sale of M142 High Mobility Artillery Rocket Systems to Australia for $975 million. This is part of Australia's efforts to acquire advanced military technology amid China's significant military build-up.
August 21, 2023 | 11:16 am
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RTX Corp, the manufacturer of the Tomahawk cruise missiles, could see a positive impact on its stock due to the A$1.3 billion deal with Australia.
The deal represents a significant revenue source for RTX Corp and demonstrates the company's competitive position in the defense sector. This could increase investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100