Raytheon’s board OKs $5 billion share buyback

Raytheon Technologies Corp.
RTX,
-1.18%
said late Monday its board of directors has authorized a share buyback program of up to $5 billion, replacing the previous program approved in 2015. The share repurchases “may take place from time to time, subject to market conditions and at the company’s discretion,” Raytheon said. Shares of Raytheon rose nearly 2% in the extended session Monday after ending the regular trading day down 1.2%.