Textron up on bullish forecast
The maker of Bell helicopters and Cessna jets beat profit forecasts, although sales were lighter than expected. Textron's (TXT) EPS rose 15% to 56 cents, a penny above projections. Sales grew 3.4% to $3.36 bil, missing analyst estimates for $3.42 bil. A post-recession surge drove EPS up by triple-digit figures 3 of 4 quarters in late '11 and early last year. But growth has eased recently. Still, Textron is trading above its 50-day and 200-day averages. Shares rose 2.8% to 27.84.
