Textron (TXT) NewsBite - TXT Falls on Disappointing Forecast

Textron (TXT) opened at $44.04. So far today the stock has hit a low of $40.58 and a high of $44.95. TXT is now trading at $41.65, down 4.33 (-9.42%). After hitting a one-year high of $74.4 in December, the stock has hit a new one-year low today. TXT posted a second-quarter profit from continuing operations of $1.03 per share, beating analysts' estimates of 96 cents per share. However, TXT shares took a dive after the company forecast third-quarter earnings between 80 and 90 cents per share, while analysts are expecting 99 cents per share. Technical indicators for TXT are bearish and steady, while S&P gives the stock a bullish 4 Stars (out of 5) Buy rating. For a hedged play on this stock, consider an August bear-call above the $50 range. TXT hasn't been above 50 since the end of June, and could gain up to 20.0% before this trade loses money.

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