How much volume textron stock had yesterday?”
TXT has rallied more than 57% Textron Inc. Textron Inc. (TXT: View sentiment for TXTsentiment, chart, options) is set to surge today, after reports hit the Street that the aircraft issue is the target of a takeover bid. Kuwaiti newspaper Al-Watan said that a consortium of Middle Eastern companies is prepared to offer $21 per share to acquire TXT, which closed Wednesday at $9.11. The newspaper report confirms speculation that has been surrounding the shares for days. Ahead of the bell, TXT has rallied more than 57%. Thanks to the merger-and-acquisition chatter, the stock could close the week above resistance from its 20-week moving average for the first time since May 2008. Option players probably weren’t too shocked by today’s news, as speculative investors on the ISE have purchased 12 times more calls than puts on TXT during the past 2 weeks. However, the sheer size of the reported buyout bid may have come as a surprise — peak call open interest in the April series consists of 11,188
