Raytheon Wins Faa Bid Over Boeing

Raytheon won $1 billion contract to upgrade air traffic control systems at hundreds of airports, the Federal Aviation Administration announced Monday.

The deal calls for installation of new radar terminals and other electronic equipment at 172 FAA airport towers and 199 airports operated by the Defense Department.

News that it won the prime contract for the Standard Terminal Automation Replacement System - STARS pushed Raytheon’s stock up $1.37-1/2 per share to $52.87-1/2 on the New York Stock Exchange.

Raytheon’s bid won out over competitive proposals from Lockheed Martin and Boeing. Shares in both companies were slightly higher Monday.