On Thursday, Raytheons shares fell 1.7% to $52.78.
On Friday, Rayon’s shares climbed 1.9% to a new high of $51.26.
The company posted a profit of $3.9 billion for the fiscal year ended Sept. 30.
Raytheon is a pioneer of laser technology.
It is widely used in the military.
The military uses it to detect threats such as mines and mines-like objects.
Ray theon’s stock has been rising since early September.
The company has been struggling to stay afloat as demand for laser equipment has waned and competition from smaller competitors.
On Thursday night, the company announced that it had filed for Chapter 11 bankruptcy protection.
Raytheos shares have fallen from $43.00 on Friday to $35.85 on Friday.