Why RTX Stock Is Flying Higher Today
Shares of RTX (NYSE: RTX) are jumping Tuesday. The firm's stock gained 2.5% as of 12:50 p.m. ET, but was up as much as 6% earlier in the day. The leg up comes as the S 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 0.7% and 1.6%, respectively.
RTX -- formerly known as Raytheon -- reported earnings early Tuesday. The numbers were received relatively well, although investors may have hoped for slightly stronger guidance for the company.
Amidst what RTX president and CEO Chris Calio called "unprecedented demand," RTX delivered strong growth for both the quarter and fiscal year 2024 as a whole. The company boosted sales 9% year over year (YOY) for Q4 and delivered an adjusted earnings per share (EPS) of $1.54, up 19% YOY. Wall Street was expecting an adjusted EPS of $1.38 for the quarter. RTX handily clearing that bar impressed investors.
Source Fool.com
