Solid News

Stocks of the US aerospace and defense conglomerate Raytheon Technologies Corp. are trading near the 87.00 mark.

The shares are adding value after it became known about the company's local victory over its competitors in the race for a global contract from the Pentagon for the development of a cruise hypersonic missile worth 985.0M dollars. Preliminary agreements with the management of The Boeing Co. and Lockheed Martin Corp. were cancelled, therefore, by Raytheon Technologies Corp. is the only developer.  

As for the financial component, on October 25, the issuer will report on its work in Q3 2022. According to preliminary estimates, revenue could be about 17.31B dollars, up from 16.31B dollars in the previous quarter, and earnings per share are likely to remain at 1.14 dollars, which is the average for the current year.

It should be noted that the Board of Directors confirmed the payment of dividends in the amount of 0.55 dollars per share, which is scheduled for December 15, 2022. The closing of the register of shareholders is scheduled for November 11, and the estimated yield may be 2.51% per annum.

The quotes of the asset continue to move in the global descending channel, approaching the resistance line. The trend Alligator indicator is already preparing for a reversal, narrowing the range of fluctuations of the EMA, and the AO oscillator has moved into the buying zone, forming the first bar above the transition level.         

Support levels: 85.50, 80.50. | Resistance levels: 89.70, 96.00.