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Textron Swings To Loss On Lower Sales, Charges; Sees Biz Jets Stabilizing

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By Calvin Biesecker A big drop off in revenues for business jets and industrial products combined with a steep decline in profits in the finance business along with a hefty charge related to an ongoing restructuring program led to a second quarter net loss at Textron [TXT]. On the other hand, company officials say there are early signs that the market for aircraft is nearing a bottom. Results at the company's Cessna aircraft division, which makes business jets and other…

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