Defense companies are widely acknowledged to be a good place for investors to hide in an economic downturn. In the Covid-19 crisis, though, investors have yet to put much of their money where their mouth is. On Thursday, Raytheon Technologies, the aerospace-and-defense giant resulting from the recent merger of United Technologies and Raytheon, reported its first-ever results, beating analysts’ estimates for revenue, cash flow and adjusted earnings. The company’s shares still fell almost 1% when the stock market opened.

Source: Wall Street Journal May 07, 2020 14:37 UTC