Textron (TXT +3%) rises after its Cessna unit signs two somewhat-vague strategic agreements with...

|About: Textron Inc (TXT)|By:, SA News Editor

Textron (TXT +3%) rises after its Cessna unit signs two somewhat-vague strategic agreements with China's AVIC. One involves the creation of JVs that will "pursue various activities" related to developing aviation businesses, including an aircraft service network, and the other involves a JV to produce mid-size Cessna business jets, as well as "a potential new product for the business jet market."