Why Textron Stock Is Climbing Today
Shares of Textron (NYSE: TXT) are climbing today, up by 11% as of 12:15 p.m. EST, due in part to market exuberance over progress being made on a potential COVID-19 vaccine. A post-pandemic return to normalcy could be a catalyst for a number of the company's businesses and provide a much-needed spark for this underperformer.
Textron has been a tough stock to love lately, with shares down 22% over the past three years and trailing the S&P 500 by more than 60 percentage points. The company, a maker of everything from golf carts to helicopters, has been plagued by issues in various segments that have depressed earnings and tempered enthusiasm about the stock.
Image source: Textron.
Source Fool.com
