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RTX Corporation ($RTX) Stock Forecast: Down 1.3% Today

Morpher AI identified a bearish signal. The stock price may continue to fall based on the momentum of the negative news.

What is RTX Corporation?

RTX (Raytheon Technologies Corporation) is a leading aerospace and defense company that provides advanced technologies for commercial and military customers. Today, the stock experienced a strong bearish movement in the market.

Why is RTX Corporation going down?

RTX stock is down 1.3% on Jun 24, 2024 18:01

  • RTX securing a contract to build AN/APY-10 Radar Systems should have been a positive development, but the bearish movement suggests that investors may have had different expectations or concerns.
  • The news about Collins Aerospace winning a significant US Air Force contract could have potentially shifted investor focus away from RTX, impacting its stock performance negatively.
  • The mention of Jeremy Grantham's ETF and his avoidance of high-flying tech stocks like Nvidia and Tesla might have influenced market sentiment towards traditional aerospace and defense companies like RTX, leading to the bearish movement.
  • Finnair completing a major cabin upgrade program may have highlighted increased competition in the aviation industry, potentially affecting investor confidence in RTX's aerospace segment and contributing to the bearish market movement.

RTX Price Chart

RTX News

RTX Secures a Contract to Build AN/APY-10 Radar Systems

RTX is set to manufacture and supply 18 AN/APY-10 Radar Systems for the P-8A Poseidon aircraft.

https://www.zacks.com/stock/news/2291987/rtx-secures-a-contract-to-build-anapy-10-radar-systems

News Article Image RTX Secures a Contract to Build AN/APY-10 Radar Systems

Collins Aerospace wins $264mln US Air Force Reconnaissance Pod contract

Washington, June 22 : Collins Aerospace has received a more than $264 million US Air Force contract for the DB-110 and MS-110 Reconnaissance Pod programme, the Department of Defence announced in a press release. “Collins Aerospace …[of] Westford, Massachusetts has been awarded a $264,595,890 …contract … for the DB-110 and MS-110 Reconnaissance Pod programme,” the release said on Friday. The programme will be executed in the Air Force Life Cycle Management Center, Intelligence Surveillance Reconnaissance and Special Operations Forces International […] The post Collins Aerospace wins $264mln US Air Force Reconnaissance Pod contract appeared first on Daily Excelsior .

https://www.dailyexcelsior.com/collins-aerospace-wins-264mln-us-air-force-reconnaissance-pod-contract/

News Article Image Collins Aerospace wins $264mln US Air Force Reconnaissance Pod contract

3 Must-Own Stocks from Jeremy Grantham’s New ETF

The GMO U.S. Quality ETF (NYSEARCA:QLTY) seeks quality stocks to buy.   At the end of May, Barron’s published an article about investing guru Jeremy Grantham’s new ETF and how it’s beating the markets despite not owning Nvidia (NASDAQ:NVDA).  “The GMO U.S. Quality ETF’s disciplined approach uses both quantitative and fundamental techniques to assess the relative quality and valuation of U.S.-domiciled companies and aims to exploit a long-term investment horizon while withstanding short-term volatility in an actively managed ETF format,” states the EYF’s website.  In fact, Grantham does not manage the fund. Tom Hancock, GMO’s Head of Focused Equity, does this with portfolio managers Ty Cobb and Anthony Hene.  Hancock likens the latest AI craze to the dot-com froth of the late 1990s where stocks traded at nosebleed valuations. With Nvidia valued at twice the S&P 500 and Tesla’s (NASDAQ:TSLA) margins likely to fall, he steered clear of these two Magnificent Seven stocks.  Launched last November, the ETF, which focuses on both growth and value, is up nearly 20% since its inception in line with the index.    Here are three stocks to buy from QLTY’s 35 holdings.

https://investorplace.com/2024/06/3-must-own-stocks-from-jeremy-granthams-new-etf/

News Article Image 3 Must-Own Stocks from Jeremy Grantham’s New ETF

Finnair Completes €200 Million Long-Haul Cabin Upgrade

Finnair celebrates the successful completion of its €200 million long-haul cabin renewal program to Economy and Business class. It sees the introduction of a new Premium Economy class on long-haul Finnair flights. This upgrade project brings a completely transformed travel experience to all passengers on Finnair flights involving long-haul routes. Launched in 2022, the state-of-the-art cabins have now been installed across the entire fleet of A350 and A330 aircraft. This means passengers flying between Helsinki , the airline’s hub, and destinations in the US, Middle East, and Asia can now enjoy a consistent and exceptional Finnair experience. (adsbygoogle = window.adsbygoogle || []).push({}); Introducing Premium Economy Class A key highlight of the cabin refresh is the introduction of a brand-new Premium Economy class. This provides passengers with increased choice and flexibility when selecting their travel experience. Finnair is now the first to offer Premium Economy on most long-haul routes. “We’re thrilled to have completed the rollout of our award-winning long-haul cabins in just two years,” says Ole Orvér, Finnair’s Chief Commercial Officer . “Customer feedback on the revolutionary Business Class seats and the all-new Premium Economy cabin has been outstanding.

https://aviationsourcenews.com/airline/finnair-completes-e200-million-long-haul-cabin-upgrade/

News Article Image Finnair Completes €200 Million Long-Haul Cabin Upgrade

RTX Corporation Price History

24.05.2024 - RTX Stock was down 1.3%

  • RTX securing a contract to build AN/APY-10 Radar Systems should have been a positive development, but the bearish movement suggests that investors may have had different expectations or concerns.
  • The news about Collins Aerospace winning a significant US Air Force contract could have potentially shifted investor focus away from RTX, impacting its stock performance negatively.
  • The mention of Jeremy Grantham's ETF and his avoidance of high-flying tech stocks like Nvidia and Tesla might have influenced market sentiment towards traditional aerospace and defense companies like RTX, leading to the bearish movement.
  • Finnair completing a major cabin upgrade program may have highlighted increased competition in the aviation industry, potentially affecting investor confidence in RTX's aerospace segment and contributing to the bearish market movement.

24.00.2024 - RTX Stock was up 5.0%

  • RTX shares rose by 3.8% in premarket trading following the positive earnings news.
  • Despite the strong quarterly performance, the company's 2024 revenue forecast missed expectations.
  • The jump in sales for Q4 and the positive earnings beat contributed to the bullish movement in RTX shares.
  • The lower estimates for 2024 and the overall market sentiment also influenced the market movement.

24.09.2023 - RTX Stock was up 9.8%

  • Raytheon Technologies is set to announce its quarterly earnings report, and investors are optimistic about positive guidance and forecasted growth.
  • The defense industry is expected to experience robust growth as spending increases for aircraft, missile defense systems, and weaponry.
  • RTX stock has faced challenges in the past due to issues with Pratt & Whitney's GTF engines, but it is now on the verge of a massive turnaround.
  • RTX has secured a significant contract for the Radar Interface Unit lite from the Army, indicating potential growth opportunities.
  • Overall, the bullish movement in RTX today can be attributed to positive expectations for the company's earnings report, the overall growth prospects of the defense industry, and recent contract wins.

09.09.2023 - RTX Stock was up 4.7%

  • The bullish movement in RTX stock today could be attributed to several factors:
  • 1. Positive sentiment towards the aerospace and defense industry: Despite the challenging conditions faced by companies in this sector, investors may be optimistic about the long-term value of RTX and its peers, as mentioned in an article from The Motley Fool.
  • 2. Resolution of engine issue concerns: an article from The Motley Fool highlights that RTX detailed the financial impact of its engine issue, which might have alleviated some concerns among investors. This development could have contributed to the bullish movement.
  • 3. Social media attention: an article from TipRanks mentions that RTX is among the most-discussed stocks on social media platforms like Reddit. The increased attention and discussions around the stock might have attracted more buyers, pushing the price higher.
  • 4. Inclusion in analyst blog: an article from Zacks Commentary highlights that RTX is included in an analyst blog, which could have generated positive sentiment and interest among investors.
  • Overall, the bullish movement in RTX stock today can be attributed to positive industry sentiment, resolution of engine issue concerns, social media attention, and inclusion in an analyst blog.

12.08.2023 - RTX Stock was down 5.1%

  • The bearish movement in RTX stock today can be attributed to the following factors:
  • 1. RTX announced a $3 billion pre-tax charge due to a recall related to a rare condition in powder metal affecting certain engine parts. This news negatively impacted investor sentiment.
  • 2. The recall and the associated charges are expected to have a significant financial impact on RTX over the next few years, leading to concerns about the company's financial performance.
  • 3. The issue with Pratt & Whitney engines, which power the A320neo, is also causing additional inspections and shop visits, further adding to the negative sentiment surrounding RTX stock.
  • Overall, the combination of the recall news and the impact on financials, along with the issues with Pratt & Whitney engines, contributed to the bearish movement in RTX stock today.

11.08.2023 - RTX Stock was down 6.4%

  • RTX Corp. announced that it will take a $3 billion charge due to engine problems with Pratt & Whitney GTF engines. This issue has forced inspections on hundreds of engines ahead of schedule.
  • The recall of these engines will result in a hit to RTX's profit, causing the stock to drop.
  • The company also lowered its sales outlook due to a "rare condition in power metal" used to make certain engine parts, leading to a further decline in the stock.
  • The financial charges and lowered sales outlook reflect the impact of the engine issues and how RTX expects to support its customers.
  • In summary, the bearish movement in RTX's stock can be attributed to the significant financial impact of engine problems and the lowered sales outlook caused by a rare condition in power metal used in engine parts.

25.06.2023 - RTX Stock was down 15.1%

  • RTX reported Q2 earnings and revenues that surpassed estimates, indicating positive performance. However, this news did not have a significant impact on the market movement.
  • The market may have reacted to the disclosure of a manufacturing defect in RTX's Pratt & Whitney unit, causing a decline in the stock price.
  • Despite the positive Q2 profit increase, the market sentiment remained bearish, suggesting that other factors may have influenced the downward movement of RTX's stock.

14.06.2023 - RTX Stock was down 0.8%

  • The Ministry of Defence purchasing the Landshield anti-jam system does not directly impact RTX's stock movement.
  • Raytheon's arm winning a $28.2 million modification deal for the MK-31 RAM program could have a positive impact on the company's revenue, but it does not explain the bearish movement.
  • The decrease in RTX's short percent of float suggests a decrease in bearish sentiment, which contradicts the stock movement today.
  • The $5.5 billion modification to the F117 engine contract with the U.S. Air Force, which includes performance improvements and cost savings, could potentially have a positive impact on RTX. However, it does not explain the bearish movement today.
  • Overall, the bearish movement of RTX's stock today may be influenced by factors not directly related to the news articles provided. It could be attributed to broader market trends, investor sentiment, or other external factors.

26.05.2023 - RTX Stock was down 2.2%

  • The global market mood was dampened by concerns over the stability of President Vladimir Putin and a potential disruption to Russian oil supply.
  • Shares of U.S. defense companies including Raytheon Technologies and Lockheed Martin Corp slipped about 1% each in thin premarket trading.
  • There was no specific news related to RTX that could have caused the bearish movement. However, investors might have been cautious due to the overall market sentiment and the dip in defense stocks.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.