EADSY - Poor Air Travel Sentiment Provides Attractive Entry Point For United Technologies Ahead Of Merger With Raytheon

Raytheon (RTN) appeared on my Magic Formula screen at the start of the month. The company caught my eye because I thought it is a high quality company at a reasonable valuation in an interesting industry with modest business cycle exposure. Since that article, the cards have been reshuffled. The coronavirus went from being a regional and mostly Chinese problem to a global pandemic.

With a new macro-economic environment comes a new macro-economic view and this has made the pending merger between Raytheon and United Technologies (UTX) an even more