Raytheon Extends Losses After Disclosing DoJ Criminal Subpoena

10/28/20

By Carl Surran, SA

Raytheon Technologies (RTX -4.2%) tumbles after disclosing it received a criminal subpoena from the U.S. Department of Justice seeking information related to an investigation into accounting and controls issues in its Missile & Defense business dating back as far as 2009.

The business yesterday reported Q3 sales of $3.79B, about a quarter of the company's total.

Raytheon says it is unable to predict the outcome of the probe but does not foresee a material impact on its financial condition or results.

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