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Stock Market & Financial Investment News

News Breaks
March 14, 2014
10:22 EDTTXTTextron completes acquisition of Beechcraft
Textron announced it has closed its acquisition of Beech Holdings, the parent of Beechcraft Corporation, and that it will bring together its Cessna business and Beechcraft to form a new segment called Textron Aviation. Cessna and Beechcraft together produced about $4.6B in revenues during 2013. Under the terms of the transaction, Textron purchased all outstanding equity interests in Beech Holdings for approximately $1.4B in cash. Textron financed the purchase of the equity as well as the repayment of Beechcraft’s working capital debt through a combination of available cash, the issuance of $600M in senior notes and drawing $500M under a new five-year term loan.
News For TXT From The Last 14 Days
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July 28, 2015
06:32 EDTTXTTextron reports Q2 Aviation revenue $1.12B
Reports Q2 Bell revenue $850M; Q2 Systems revenue $322M, Q2 Industrial revenue $927M.
06:31 EDTTXTTextron backs FY15 EPS cont ops $2.30-$2.50, consensus $2.50
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06:31 EDTTXTTextron reports Q2 EPS cont ops 60c, consensus 59c
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July 21, 2015
10:14 EDTTXTHigh option volume stocks:
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July 19, 2015
20:33 EDTTXTMedia reports say Lockheed to buy UTX's Sikorsky
According to media reports, Lockheed Martin (LMT) has agreed to purchase United Technologies' (UTX) Sikorsky unit. The news comes after several months of speculation surrounding Sikorsky, and an announcement could be made just a day prior to second quarter earnings for both United and Lockheed. WHAT'S NEW: Reuters reported on Sunday that Lockheed Martin has agreed to buy Sikorsky Aircraft from United Technologies for over $8B, according to two sources, adding that the deal is set to be formally announced on Monday. The news was later echoed by Bloomberg, citing a person familiar with the talks. WHAT'S NOTABLE: United Technologies first reported that it was exploring strategic options for its Sikorsky unit on March 11. At the time, the company noted that options included a spinoff or a stand-alone public company, saying that the split could allow United "to better focus on providing high-technology systems and services to the aerospace and building industries." Following the announcement, UBS remarked that it was "not surprised" and reiterated a $136 price target on United shares. On May 20, the Wall Street Journal quoted sources as saying Boeing (BA), Airbus (EADSY) and Lockheed submitted bids for the helicopter maker, with a speculated deal thought to reach the $10B area. A June 9 report from Reuters added Textron (TXT) to the list of bidders. Today's news -- though unconfirmed by either United or Lockheed -- comes ahead of second quarter earnings reports for both companies scheduled for Tuesday, July 21. PRICE ACTION: Shares of Lockheed Martin declined 0.22% to $201.18 at the close of trading on July 17, while those of United Technologies fell 0.45% to $110.76.
15:31 EDTTXTLockheed Martin to buy Sikorsky for over $8B, Reuters says
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