Why RTX Stock Stalled Out in July
(NYSE: RTX), the company that until recently was known as Raytheon Technologies, has discovered a flaw in one of its commercial aviation engines that will lead to complex inspections and cost a lot of money.
Investors fled for the emergency exits when the issue was disclosed, sending shares of RTX down 10% in July, according to data provided by S&P Global Market Intelligence.
RTX was formed in 2020 via the merger of defense specialist Raytheon and the commercial-focused aerospace arm of United Technologies with a promise of diversification: The combination would be so big, and in so many markets, that it wouldn't be reliant on any one program.
Source Fool.com
