Raytheon Company (NYSE: RTN) is having an incredibly strong time in the market at the moment as rumors break. These rumors are leading to excitement among investors, who are pushing the stock upward. Of course, this prompted our partners at Trade Ideas to alert us to the gains. At the moment (12:29), RTN is trading at $161.20 per share after a gain of $1.10 per share (0.69%) thus far today.
RTN Gains On Takeover Chatter
As mentioned above, Raytheon Company is in the midst of a spike in the market at the moment, and for good reason. Rumors are breaking that the company may soon be taken over. According to the rumor mill, the company will soon be taken over by Boeing Co (NYSE: BA). The rumor even gives a price of $200 per share, which represents an overwhelmingly strong premium.
While this rumor is moving the market at the moment, we would like to offer a few words of caution. The fact of the matter is that we see takeover rumors all the time. However, few of these rumors actually prove to be valid. While this one is relatively detailed for a rumor, there’s no confirmation from either side that a deal will actually take place. So, if you plan on trading on this news, please do so with caution.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on RTN. In particular, we’re interested in finding out if there is any validity to the rumor mentioned above. If an acquisition does indeed take place, the deal will return incredible value to shareholders. We’ll continue to follow the story closely and bring the news to you as it breaks!
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