Raytheon to Split Defense Unit Into 7

Raytheon Co., maker of the Tomahawk missile in use in Afghanistan, will split defense and air-traffic work into seven businesses to become more nimble and responsive to customers and investors.

The businesses include missiles; radar and other defense-electronic systems; computer services; and air-traffic control equipment.

Shares of Raytheon rose $1.08 to $35 on the NYSE.