Syria Airstrikes Instantly Added Nearly
$5 Billion to Missile-Makers’ Stock Value”
— Headline from Fortune magazine Friday after 57,000 pounds of tomahawk missiles struck an air base in Syria
The Fortune piece reported:
Raytheon stock surged Friday morning, after 59 of the company’s Tomahawk missiles were used to strike Syria in Donald Trump’s first major military operation as President.
Trump ordered the airstrike on the Syrian government Thursday night in retaliation for a deadly chemical weapons attack on civilians earlier this week that killed as many as 100 people. The U.S. blamed the attack on the regime of Syrian President Bashar al-Assad.
The Tomahawk missile used in the strike is made by Raytheon (RTN, +1.47%), whose stock opened 2.5% higher Friday, adding more than $1 billion to the defense contractor’s market capitalization.
The shares of other missile and weapons manufacturers, including Boeing (BA, +0.83%), Lockheed Martin (LMT, +1.17%), Northrop Grumman (NOC, +0.90%) and General Dynamics (GD, +0.93%), each rose as much as 1%, collectively gaining nearly $5 billion in market value as soon as they began trading, even as the broader market fell
As an aside …
Here’s something I posted on my Facebook page this morning after seeing the sickening news that Coptic Catholic Churches in Egypt were bombed during Palm Sunday services.
While men, women, children, and babies in Egypt were bombed during Palm Sunday services this morning in a Coptic Church, the President and leader of the free world was not even focused on the heavy burdens of responsibility her bears.
While he has found time to make some phone calls with world leaders in places like South Korea this weekend, he has found time to visit his golf club and get in more rounds.
Seems to me this is the time to be on the phone and in meetings, around the clock, with experienced, seasoned leaders for suggestions on how to strategize and come up with long-term solutions to end the march of evil forces in the world.
Brinksmanship and saber-rattling invite more brinksmanship and dangers from people who don’t value human life like we in America and civilized countries do.
I pray that somehow, some way, our President will take his responsibilities more seriously and focus his mind on creating a coalition of countries and agencies around the world to create serious, coherent, diplomatic and political strategies and policies for achieving the peace and harmony he himself has said he envisions.
Even his military and security advisors know and remind us at every turn that military might alone and shows of force will never end the many crises breaking out around the world on his watch.
I pray for the Egyptian Christians and so many others suffering on this Palm Sunday. Lord in your mercy be with us and our leaders and give them wisdom.