Why Johnson Controls Stock Got Hot In November
Shares of Johnson Controls (NYSE: JCI) have been under pressure this year due to investor concerns that a weak housing market would crimp demand for its ventilation and climate control equipment. The company's quarterly results released in November suggested that fear was overblown, and the stock jumped as a result.
Shares of Johnson Controls gained 14.9% in November, according to data provided by S&P Global Market Intelligence, cutting the stock's loss for the year in half in a single month.
Johnson Controls is a maker of heating, ventilation, and air conditioning systems (HVAC) for commercial and residential buildings. With rising interest rates putting homebuilders under pressure and raising questions about new construction activity, investors had been worried about demand for the company's products.
Source Fool.com
