Textron Jumps on Report About Spin-Off

[Stocks-to-Watch]

Textron (TXT) rose 7% in early trading after Reuters reported that the company is considering spinning off parts of its business as part of a strategic review. Textron owns Cessna aircraft and Bell helicopters, among other industrial and defense businesses.

The company has received attention from activist investor Ralph Whitworth, but it’s unclear whether Whitworth’s Relational Investors has taken a large stake and started advocating for changes, according to Reuters.

Textron stock is down 11% in the past year.



Original Article Source by Barrons.com