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FUND Sell 05.08.2020 12:33

Raytheon Technologies Corp. (RTX/NYSE): general review

Raytheon Technologies' shares traded at a two-month low of August 3, having lost more than 5.5% in value since the July 28 report for the last quarter. The company posted revenue of USD 14.06 billion with earnings per share of USD 0.40, exceeding The Wall Street's expectations of USD 13.98 billion and USD 0.10, respectively, thanks to its operating cost reduction program. The pressure on the emitter's quotes was exerted by a 35% drop in sales in the aerospace segment and 30% in the defense segment amid the coronavirus pandemic.