Textron Inc. (TXT)

[makesumgravy]

This and insider buying is causing the spike. I like the company. The problems they are confronting is the Defense Department, and the Govt cutting spending on defense. This and the news we've all heard regarding companies under the Tarp and ownership of corporate jets among all the other things we've been witness to in the market. The company will also be reporting earnings at the end of the month.

HARTFORD, Conn. (AP) -- Shares of Textron Inc. jumped for a second consecutive day Tuesday on rumors that a buyout may be in the works for the industrial manufacturer battered by the financial crisis.

Related Quotes
Symbol Price Change
LMT 73.22 -0.57

RTN 41.56 +0.68

TXT 8.87 -0.15


The stock closed up 11 percent Monday amid media reports of a possible sale of Textron. In afternoon trading Tuesday, shares climbed 60 cents, or 7.3 percent, to $8.86.

Analyst Cai von Rumohr of Cowen and Co. said rumors persist that Lockheed Martin Corp. or Raytheon Co. might buy the Providence, R.I.-based company.

Textron and Lockheed Martin representatives did not immediately respond to requests for comment. A Raytheon spokesman said the company does not comment on rumors or speculation.

Andrew Wilkinson of Interactive Brokers Group said the rumors on Monday focused also on the possibility that Textron might benefit from changes in Pentagon spending announced that day by Defense Secretary Robert Gates.

Textron makes Cessna jets, Bell helicopters and turf maintenance equipment.

The company's finance arm provides financing for new and used Cessna business jets, golf courses and to developers of vacation resorts has been particularly hard-hit by the deteriorating economy.

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