United Technology, Raytheon Shares Lower One Day After Merger Announcement

Date : 06/11/2019 @ 9:15PM
Source : Dow Jones News
Stock : United Technologies Corp. (UTX)
Quote : 132.39  1.09 (0.83%) @ 1:00AM

United Technology, Raytheon Shares Lower One Day After Merger Announcement

United Tech (NYSE:UTX)
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By Stephen Nakrosis

 

Shares of industrial conglomerate United Technologies Corp. (UTX) are lower in Tuesday's market, continuing a trend from yesterday after the company announced plans to merge with defense contractor Raytheon Co. (RTN).

At 3:39 p.m., United Technology shares were down 3.87% to trade at $123.05. Volume was heavier than normal, with over 8.6 million shares trading, above the 65-day average volume of some 3.1 million.

On Monday, United Technology saw its shares lose 3.13%, on volume of over 13.7 million. The losses continued in Monday's after-hours market.

Raytheon shares were also losing ground in Tuesday's market, losing 4.61% to trade at $178.58 a share on heavier than average volume.

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

June 11, 2019 16:00 ET (20:00 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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