Profits Crater at RTX -- but It's Not All Bad News
(NYSE: RTX), the giant aerospace conglomerate formed by the merger of the Raytheon defense company and United Technologies' airplane business, reported miserable earnings last week. Despite sales growing 8% year over year, RTX suffered a steep 91% collapse in second-quarter earnings, reporting just $0.08 per share.
And yet, despite the bad news, RTX stock is up more than 9% since reporting these earnings. Why is that?
Give investors some credit. On the face of things, RTX's earnings looked pretty miserable last week. But reading even just a little beyond the headlines showed some significant improvements at RTX.
Source Fool.com