Why RTX Stock Was Able to Regain Some Altitude in October
RTX (NYSE: RTX) has been in a tailspin for much of the last few months due to an aircraft engine issue that will require billions in charges to fix. But management went a long way toward reassuring investors they have the situation under control during their third-quarter earnings presentation, and the stock responded favorably as a result.
Shares of RTX gained 13.1% in October, according to data provided by S&P Global Market Intelligence, with most of that gain coming after RTX's Oct. 24 earnings release.
RTX, the commercial aerospace and defense giant that until earlier this year was known as Raytheon Technologies, is one of the world's largest producers of aircraft engines via its Pratt Whitney unit. In July, the company disclosed issues with some of its engines that would require a costly fix.
Source Fool.com
