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Stock Price of Cessna Aircrafts Parent Company Rises on Management Report.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, July, 2000 by McMillin, Molly
Jul. 16--Wall Street seemed to have liked what it heard last week after Cessna Aircraft Co. officials met with analysts in New York.
The price of Textron Inc.'s stock, Cessna's parent company, rose $2 last week.
And Morgan Stanley Dean Witter increased its 2001 earnings-per-share projections for Textron by 5 cents to $5.35 a share. That followed Tuesday's presentation to analysts by Cessna chief executive Gary Hay.
The most impressive news was the progress Cessna had made toward reducing some of its costs, said Bradley Galko, a multi-industry analyst with Morgan Stanley Dean Witter.
Cessna has experienced some well-known growing pains, including production bottlenecks, he said.
But "some of the steps that management has...
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