RTX soars on strong earnings to be one of the day’s top movers
RTX is one of the day’s top stocks after reporting better-than-expected fourth-quarter sales and profits. Its Pratt & Whitney engine division — which makes equipment and parts for Airbus planes — did well amid a global shortage of new jets related to the ongoing mess at Boeing. (Aerospace aftermarket parts makers were big winners last year.)
And RTX’s defense division, Raytheon, sold a lot of missile and drone defense systems in eastern Europe, as that part of the world adjusted to the realities of a revanchist Russia.
Speaking of missile defense systems, CEO Chris Calio also told Bloomberg that RTX is “fully prepared” to build out an orbital defense system for the US along the lines of the Iron Dome system the US developed for Israel. The market seems to like the sound of that.
And RTX’s defense division, Raytheon, sold a lot of missile and drone defense systems in eastern Europe, as that part of the world adjusted to the realities of a revanchist Russia.
Speaking of missile defense systems, CEO Chris Calio also told Bloomberg that RTX is “fully prepared” to build out an orbital defense system for the US along the lines of the Iron Dome system the US developed for Israel. The market seems to like the sound of that.
