Raytheon CEO: We Are Facing Tougher Defense Budgets

4:40 AM ET Mon, 9 July 2012

"Right now we are facing a tighter defense budget time, but at the same time world events drive these things and things can change so rapidly that I think where we are right now is a lot of us are reshaping our portfolios to meet the new environment," Tom Culligan, CEO of Raytheon International, told CNBC.