Why Textron Stock Tumbled Today
Textron aims to boost profit margins and accelerate growth by cutting loose a weak division.
Overview
Textron (NYSE: TXT) stock fell 8.2% through 10:05 a.m. ET Tuesday after meeting analyst sales forecasts and beating on earnings. Analysts forecast Textron would earn $1.54 per share on $3.8 billion in sales in Q2, and the company actually earned more -- $1.62 per share -- on the same expected revenue: $3.8 billion.
This isn't the reaction to an "earnings beat" that you'd ordinarily expect, so what went wrong?
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
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