NEW YORK ( TheStreet) -- Industrial conglomerate Textron TXT is wagering $1.4 billion cash on the expansion of its general aviation business with a deal to buy the parent company of Beechcraft Corp.
--By Laura Board
The shares closed up $1.69, or 3.60% at $48.57. The stock is at its highest level since January, and today's was its biggest gain since March.
It really is that simple. Mr. and Ms. Market no longer trust the outlook for domestic economic growth.
Textron is an industrial and defense giant that's also an unwieldy conglomerate. Here's why there are better ways to play the Trump boom in military spending.