Why Shares in Carrier Outperformed in May
Shares in heating, ventilation, air conditioning, and refrigeration (HVACR) company Carrier (NYSE: CARR) rose 16.8% in May, according to data provided by S&P Global Market Intelligence. The move marks a double-digit outperformance compared to the S&P 500 and to its closest peer, Trane Technologies.
As a newly listed company -- Carrier is a spin off from the former industrial conglomerate United Technologies -- its initial earnings report was always going to be closely followed as investors get to grips with the new company. Throw in the added layer of uncertainty created by the COVID-19 pandemic, and it's understandable if investors were anticipating the worst.
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Source Fool.com
