Textron Inc. (TXT) reported first quarter oncome from continuing operations of $0.40 per share Wednesday morning, down from $0.41 per share last year. The consensus estimate was for EPS of $0.46. Textron slashed its 2013 earnings from continuing operations guidance to a range of $1.90 to $2.10 per share from the prior forecast in the range of $2.10 to $2.30 per share. The consensus estimate is for earnings of $2.26 per share.
Textron gapped open sharply lower Wednesday and is now down 3.29 at $26.06 on above average volume. The stock has dropped to a 3-month low.
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