Why Shares in Johnson Controls Rose Today
Shares in building controls/systems and heating, ventilation, and air conditioning (HVAC) company Johnson Controls (NYSE: JCI) were up by almost 2.4% by around 10 a.m. ET today, bucking the trend of a declining S&P 500 at the time.
Whenever a stock makes such a contrarian move, it's a good idea to check on its peers. Doing so reveals that its HVAC rivals Trane, Carrier, Lennox, and AAON were all up simultaneously -- other building products and equipment showed strength simultaneously.
All of this is a roundabout way of arguing that the collective reason for the move comes down to the relatively positive data on U.S. construction spending data from the U.S. Census Bureau released today.
Source Fool.com
