Why Huntington Ingalls Stock Sank in October

The shipbuilder's cost issues will take time to resolve.Shipbuilder Huntington Ingalls Industries (HII 1.02%) posted disappointing quarterly results and cut its full-year guidance. Shares plunged following the announcement, ending down 30% for the month of October, according to data provided by S&P Global Market Intelligence.Hard-to-solve cost problemsHuntington Ingalls is one of two major shipbuilders for the U.S. Navy, and owner of coveted defense assets, including the Newport News shipyard in Virginia. I ...