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Textron Inc

6/19/2013, 1:56 AM ET

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| On the move

Tuesday, June 18, 4:23 AM Paris Air Show: While defense companies are being hit by sequestration at home, they are enjoying increasing demand abroad for fighter jets, missile defense systems and other weapons. Air force sales doubled to $22B over the past two years, while the likes of Raytheon (RTN) are overbooked with meetings in Paris this week. Other vendors to benefit include Boeing (BA), United Tech (UTX), Lockheed Martin (LMT) and Textron (TXT). Comment!
Tuesday, June 11, 8:58 AM Boeing (BA) wins a five-year contract worth $4B from the U.S. army for 177 CH-47F Chinook helicopters, with the deal also including an option for another 38 of the aircraft. Meanwhile, the U.S. navy intends to make an order worth just under $6.5B for 99 Osprey V-22 tilt-rotor aircraft built by Boeing and Textron (TXT) unit Bell. Boeing's Leanne Caret is "extremely bullish on the rotorcraft industry" and expects the company to double its revenues in the sector by 2030. Comment! [Top Stories]
Thursday, May 30, 7:23 AM Although the firm sees a "relatively strong business jet recovery," Goldman believes it will ultimately "be muted by the 2014-2015 transition at Bell [characterized by] broader military revenue decline." Given this, analyst Noah Poponak downgrades Textron (TXT) to Neutral from Buy but raises the price target on the shares to $32 from $31. 1 Comment
Tuesday, May 28, 5:13 AM Chinese hackers have stolen the designs for some of the U.S.'s most advanced weapons' systems, a study for the Pentagon has reportedly alleged. The programs to have been breached include missile systems from Raytheon (RTN) and Lockheed Martin (LMT), and aircraft made by Boeing (BA), Textron's (TXT) Bell Helicopter and United Technology's (UTX) Sikorsky. Pentagon officials are not surprisingly frustrated by the degree of theft from the contractors. 13 Comments [Top Stories]
Wednesday, April 24, 3:26 PM Textron Inc. (TXT) declares $0.02/share quarterly dividend, in line with previous. Forward yield 0.31%. For shareholders of record June 14. Payable July 01. Ex-div date June 12. (PR) Comment! [Dividends]
Monday, April 22, 1:56 PM The U.S. intends to sell tilt-rotor V-22 Osprey airplanes to Israel for the first time as part of a $10B package of defense deals with the country, Saudi Arabia and the UAE. The Osprey, which takes off and lands like a helicopter, is made by Textron's (TXT) Bell Helicopter unit and Boeing (BA). 2 Comments
Wednesday, April 17, 9:12 AM Premarket gainers: VRML +29%. ACUR +26%. OCZ +18%. CUR +9%. ALKS +9%. ABMD +9%. ASML +6%.
Losers: EOPN -29%. INWK -25%. CXW -15%. MHR -12%. ZGNX -11%. TXT -9%. CRUS -7%. VRNG -6%. 1 Comment [On the Move]
Wednesday, April 17, 8:17 AM More on Textron's (TXT) Q1 results: Bell helicopter revenue fell 4.5% and the segment's profit dropped 11% on lower military-unit deliveries and commercial aftermarket sales. Issues downside guidance for FY 2013, sees EPS of $1.90-$2.10 vs. $2.26 analyst consensus and prior guidance of $2.10-$2.30. Expects business jet deliveries to fall this year and says it will implement cost cuts. Shares -7.2% premarket. Comment! [Earnings, On the Move]
Wednesday, April 17, 7:36 AM South Korea says it will buy $1.6B of attack helicopters from Boeing (BA) to improve its ability to respond to threats from North Korea. Boeing's AH-64E Apache Guardian helicopters beat the AH-1Z Viper built by Bell Helicopter (TXT) and the T-129 of Turkish Aerospace Industries. Comment!
Wednesday, April 17, 6:32 AM Textron (TXT): Q1 EPS of $0.40 misses by $0.05. Revenue of $2.86B misses by $0.03B. (PR) Comment! [Earnings, Breaking News]
Wednesday, April 17, 12:05 AM Notable earnings before Wednesday’s open: ABT, ASML, BAC, BK, DGX, DOV, FCFS, HBAN, MAT, PNC, STJ, TXT Comment! [Earnings]
Tuesday, April 16, 5:30 PM Notable earnings before Wednesday’s open: ABT, ASML, BAC, BK, DGX, DOV, FCFS, HBAN, MAT, PNC, STJ, TXT Comment! [Earnings]
Monday, March 25, 12:36 PM JPMorgan downgrades Cessna Aviation parent Textron (TXT -3.3%) to Neutral from Overweight citing the stock's recent strength. The shares "have had a big move over the last few months, and we are stepping to the sidelines," says analyst Joseph Nadol III. Looking ahead, JPM says a Cessna recovery is partially priced in and notes that the outlook for defense "has deteriorated due to sequestration." Comment!
Wednesday, February 27, 6:57 PM Textron Inc. (TXT) declares $0.02/share quarterly dividend, in line with previous. Forward yield 0.28%. For shareholders of record Mar. 15. Payable Apr. 01. Ex-div date Mar. 13. (PR) Comment! [Dividends]
Wednesday, January 23, 12:37 PM Textron (TXT +2.5%) moves up despite a miss on its Q4 earnings report. Net earnings swung to a profit however, on strength in its Bell helicopter segment, and benefiting from a year-earlier period that was saddled with a mark-to-market charge. Despite a weak showing for Cessna, CEO Scott Donnelly forecasts revenue growth for the segment in FY13 on increased jet deliveries, and predicts its Bell helicopter business will see modest growth as well, boosted by higher commercial helicopter sales. Comment! [Earnings, On the Move]
Wednesday, January 23, 6:32 AM Textron (TXT): Q4 EPS of $0.5 misses by $0.08. Revenue of $3.4B (+3.3% Y/Y) misses by $0.04B. (PR) Comment! [Earnings, Breaking News]