Textron stock sheds 1.29% and underperforms rivals

12 articles · Updated · MarketWatch · May 1

Shares closed at $94.72 on Friday, with trading volume of 1.9 million topping the 50-day average of 1.4 million.
The decline ended a two-day winning streak in a mixed US market, as the S&P 500 rose 0.29% while the Dow Jones Industrial Average fell 0.31%.
Textron finished 6.74% below its 52-week high of $101.57 reached on 18 February, while Honeywell, RTX and Boeing also posted smaller declines.

Textron's earnings are up and it's splitting to unlock value. So why did its stock just tumble?

Will splitting its business make Textron a defense powerhouse or just create two weaker, riskier companies?