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Why Shares of Textron Are Higher Today

TheMotleyFool

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Shares of Textron (NYSE: TXT) rallied on Tuesday along with the broader markets, closing up 11%. Textron investors haven't had much to smile about so far in 2020, but the stock in recent sessions has started to gain back some of what was lost during the COVID-19 pandemic sell-off.

Textron had been an underperformer long before the pandemic, but COVID-19 and the outbreak's impact on the economy threatened to further delay the company's hopes for a turnaround. Textron is an industrial conglomerate involved in manufacturing a range of products from helicopters to golf carts to snowmobiles to business jets.

Image source: Textron.

Source Fool.com

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