Today’s Top Stories: RTX Wins $22.9 Billion Missile Contract, Micron and Sandisk Rally on AI Demand

TLDR

• RTX’s Raytheon division won a $22.9 billion, seven-year contract to scale up Tomahawk cruise missile production
• Micron gained around 6% and Sandisk jumped roughly 11% on strong AI memory demand optimism
• Anthropic’s forecast of up to $200 billion in 2028 revenue boosted Nvidia and AI-related stocks
• L3Harris fell after CEO Christopher Kubasik was removed following an internal conduct investigation
• Fed rate-hike odds for September dropped from 55% to 31% after softer inflation and jobs data

RTX Lands $22.9 Billion Missile Deal

RTX’s Raytheon division has secured a $22.9 billion, seven-year contract from the U.S. military to ramp up production of Tomahawk cruise missiles.

Under the deal, Raytheon is expected to increase annual production from around 60 missiles to more than 1,000 per year.

The contract is part of a wider Pentagon push to rebuild weapons stockpiles and expand U.S. missile production capacity.

Micron and Sandisk Rally on AI Demand

Memory chip stocks moved sharply higher on Monday. Micron gained around 6% and Sandisk jumped roughly 11%.

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