Raytheon shares jumped to an eight-month high Monday

after the maker of Patriot missiles said it intends to merge

with United Technologies to form a weapons contracting

giant with $74 billion in annual sales.

The newly created “Raytheon

Technologies” will be larger than

Lockheed Martin and Northrop

Grumman, and trail only Boeing

among military contractors.

The company will push to develop

new technologies with combined

R&D spending of $8 billion annually and more than

60,000 engineers. Raytheon Technologies will focus on

hypersonics — vehicles or weapons which can fly five

times faster than the speed of sound — as well as

intelligence and surveillance

systems, artificial intelligence for

commercial aviation and cybersecurity

for connected planes.

Waltham, Massachusetts’

Raytheon closed up 0.7% and United

Technologies fell 3.1%.

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