Market Currents

• Tuesday, October 27, 2009

• 07:33 AM Textron (TXT): Q3 EPS of $0.12 vs. consensus of -$0.03. Revenue of $2.55B (-26.6%) in-line. Sees full-year EPS of $0.33-0.63 vs. consensus of -$0.06. (PR) Comment!
• 00:05 AM Notable pre-market earnings: AGCO, AKS, AMTD, AVY, BEAV, BEN, BJS, BP, BYD, CE, CP, CPO, CTV, CVG, ECL, ELNK, ENTG, FE, FPL, GIGM, HSP, IACI, ICON, JCI, LIFE, LLL, PCAR, SAH, TXT, VLO, WYNN, X Comment!

• Monday, October 19, 2009

• 10:38 AM Business aircraft manufacturers (GD, TXT) can expect global demand for business jets, already near a five-year low, to further erode over the next year, according to a closely-watched forecast by parts-maker Honeywell. When the turnaround does come, it will likely be driven by European and Asian clients, not U.S. customers. 1 Comment

• Wednesday, September 23, 2009

• 17:18 PM Textron (TXT) names Scott Donnelly as its new CEO, to replace the retiring Lewis Campbell Dec. 1. Donnelly joined the company as chief operating officer last year. Comment!

• Wednesday, September 2, 2009

• 10:43 AM Goldman lifts Textron (TXT +4.7%) to Conviction Buy from Neutral, TXT's second upgrade of the week. Firm thinks corporate-jet sales will improve in H2, and says all of TXT's cyclical businesses "are at or near trough and likely turning the corner." 1 Comment

• Tuesday, September 1, 2009

• 09:00 AM Premarket gainers: NVAX +14%. YRCW +13%. SVA +10%. BONU +9%. BEXP +7%. TXT +6%. HLCS +5%. ALD +5%. GNBT +4%. INO +4%.
  Losers: BEAT -12%. CMED +12%. RMBS -10%. SQNM -9%. IMMU -6%. AXL -6%. CTIC -5%. AIG -5%. CIT -5%. HCN -5%. BVF -4%. Comment!
• 08:48 AM Textron (TXT) +6% premarket after Morgan Stanley upgraded shares to Overweight from Underweight, citing the value of Textron Finance. Comment!

• Tuesday, July 28, 2009

• 00:05 AM Notable earnings before Tuesday's open: AMB, BEAV, BP, CE, CHKP, COH, CVH, DRH, ECL, ELNK, ENR, FPL, IPG, JEC, MHP, NOV, ODP, PCAR, PCX, ROK, SII, SVU, TEVA, TXT, VIA.B, VLO, VSH, WAT, WDR, X Comment!

• Thursday, July 23, 2009

• 12:52 PM The SEC brings charges against the CEO of Al-Raya Investment Co. over suspicious trading profits of more than $5M in Harman International (HAR), in connection with the "Fake Sheik" false-takeover story, and in Textron (TXT). 1 Comment

• Tuesday, May 12, 2009

• 09:00 AM Premarket gainers: CNB +38%. FCL +36%. STEC +32%. FTBK +19%. CTRP +18%. ICO +16%. WINN +16%. BCON +14%. MBI +11%. HUN +11%. PMI +10%. JRCC +10%. MEE +8%. INCY +8%. DPTR +8%. PCX +8%. ACI +7%. UCBH +7%. ABK +7%. LEA +6%. CNO +6%. KOG +6%. BQI +6%. TXT +6%. AMD +5%. DRYS +5%. HBAN +5%. FLR +5%. ARMH +5%. Comment!

• Wednesday, April 29, 2009

• 09:00 AM Premarket losers: ETFC -25%. MTG -9%. BCRX -8%. BWLD -8%. PNRA -6%. AET -6%. PMTC -5%. TXT -4%. NVAX -4%. SAP -4%. MT -4%. Comment!

• Tuesday, April 28, 2009

• 16:27 PM Textron (TXT): Q1 EPS of $0.26 beats by $0.25. Revenue of $2.53B (-23.6%) vs. $2.78B. Sees full-year EPS of $0.45-0.75 vs. $0.97 consensus, and revenue of $11B vs. $11.8B. Launches sale of 19M shares, and $300M in convertible senior notes. Shares -7.1% AH. (PR I, II) Comment!

• Wednesday, April 22, 2009

• 09:00 AM Premarket gainers: PFCB +17%. SNDK +8%. F +8%. MEDX +7%. GERN +6%. GILD +6%. SLW +5%. ELN +5%. DNDN +4%. STEM +4%. GM +5%. BA +4%. TROW +4%. BRCD +4%.
  Losers: PPDI -19%. FRE -12%. FITB -9%. RF -9%. COF -8%. PUK -9%. MS -8%. JAH -8%. ETFC -8%. HBAN -8%. PXP -7%. TXT -7%. VNO -6%. ILMN -6%. AMD -6%. USB -5%. WFC -5%. TCK -5%. BHP -5%. HBC -5%. AKS -5%. HIG -5%. Comment!

• Monday, April 13, 2009

• 09:00 AM Premarket gainers: DNDN +27%. MGM +17%. TCK +9%. WLP +9%. ENTU +8%. IIJI +8%. LVS +6%. HL +6%. YHOO +6%. AKS +5%. C +5%. APWR +5%. TTWO +5%. ESRX +5%. BRCD +4%. CDE +4%.
  Losers: GNW -24%. TRE -22%. GM -12%. WFR -10%. ACAS -5%. TXT -4%. STX -3%. RF -3%. Comment!

• Thursday, April 9, 2009

• 14:20 PM On Tuesday, Slate's Daniel Gross called Textron (TXT), "one company ideally suited not to prosper in the Obama era." Not necessarily the most timely call; today TXT is up 47% to $13.68 on speculation a Middle Eastern firm is eyeing the Cessna jet and Bell helicopter maker. Comment!
• 08:04 AM Bidding for Textron: A consortium of companies from the United Arab Emirates and Kuwait is, according to Kuwaiti press, close to a deal to buy Textron (TXT) for $21 a share - close to double its current share price. Rumors of a takeover have been circulating but have focused primarily on Lockheed Martin (LMT) as the buyer. Comment!