Textron to buy Beechcraft Corp. for $1.4 billion

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Michael Fowlkes 12/27/2013

Shares of Textron Inc. ( TXT ) are higher this morning on news that the company is buying the parent company of Beechcraft Corp. Textron will spend $1.4 billion to acquire Beech Holdings LLC. in a move to extend its aviation business. The deal will require regulatory approval, but is expected to close during the first half of 2014.

Textron Inc. ( TXT ) manufactures defense and private sector aircraft.

JinkoSolar Holding Co., Ltd. ( JKS ) and Westlake Chemical Corp. ( WLK ) top the list of other companies with positive news today, while General Motors ( GM ) and Twitter ( TWTR ) top the list of companies with negative news.

IK-> The technicals for TXT are bullish with a strong upward trend. It has support at $35.65. The stock is up 1.1% today at $36.60. The company next reports earnings on January 22. Look at the March 27/32 bull-put spread for at least a $0.35 credit. Use limit orders. This trade has a target return of 7.5% and the stock has to fall 12.2% to cause a problem. [InvestorsKeyhole, Various news and data services]




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Originally published on InvestorsObserver.com



This article appears in: Investing , Options

Referenced Stocks: GM , JKS , TXT , WLK

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