Textron wins U.S. Army growth contract, shares surge 8%

Shares of Textron Inc.

had been buying and selling larger in Monday’s after-hours session following the corporate’s announcement it was awarded the event contract for the U.S. Army’s Future Long-Range Assault Aircraft program.

The award is predicated on Bell’s V-280 Valor tiltrotor, the corporate mentioned, including “the initial contract refines the weapon system design, sustainment, digital enterprise, manufacturing, systems integration, flight-testing, and airworthiness qualification.”

Textron shares rose 7.9% in after-hours buying and selling at $75.48 a share. The inventory completed the day’s common session with a 1.96% loss at $69.90 per share.

Year thus far, the inventory is down by greater than 9%.

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