Raytheon announces $6 billion buyback program

Raytheon Technologies Corp. announced Monday afternoon that its board of directors has authorized a stock-buyback program of up to $6 billion. The program replaces Raytheon’s previous one, which was approved Dec. 7, 2021. Shares were ahead about 1% in after-hours trading Monday. The stock has climbed 16% so far in 2022 as the S&P 500 index has declined by about 16% over the same span.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.