Why Raytheon has underperformed 

The following chart goes a long way in explaining what’s going on. As you can see below, Raytheon’s defense peers Lockheed Martin and Northrop Grumman have outperformed the S&P 500 index in 2020, but Raytheon and its merger partner UTX have notably underperformed. The reason is that the measures taken to contain the novel coronavirus pandemic have hit the commercial aviation industry…...