Why Huntington Ingalls Is Sinking Today
Military shipbuilder Huntington Ingalls (NYSE: HII) missed quarterly expectations, and its issues are likely to continue into the new year.
Shares of Huntington Ingalls traded down 17% as of 11:15 a.m. ET, as investors see little reason to get excited about the stock right now.
Huntington Ingalls is one of two major shipbuilders for the military, and its massive Newport News, Virginia, shipyard is responsible for producing the nation's aircraft carriers and other important vessels. But these ships are complex, and issues related to supply chain disruptions and higher-than-expected costs at Newport News weighed down quarterly results.
Source Fool.com
