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what's up with Arctic Cat... outlook doesn't look great?
- Thread starter Summitric
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[h=1]Textron Investor Alert: Lawsuit Filed On Behalf Of Shareholders[/h]
PR NewswireAugust 23, 2019 BOSTON, Aug. 23, 2019 /PRNewswire/ -- Thornton Law Firm LLP announces that a lawsuit has been filed against Textron Inc. ("Textron" or the "Company") (TXT) alleging that Textron violated the federal securities laws. Investors who purchased Textron stock between January 31, 2018 and October 17, 2018, and are interested in participating the lawsuit as a lead plaintiff, are encouraged to contact the Thornton Law Firm and learn more about the case at . Investors may also email the firm to obtain information at shareholder@tenlaw.com or call (617) 531-3917.Textron is a global manufacturer and distributor of small aircrafts and recreational vehicles. On March 6, 2017, Textron expanded its recreational vehicle business by acquiring Arctic Cat Inc. ("Arctic Cat"). Throughout the Class Period, Textron allegedly repeatedly touted Arctic Cat as an important growth business for the Company, reassuring investors about dealer demand, end-market sales and earnings prospects for its Arctic Cat products. Notwithstanding these positive representations to the market, Defendants allegedly failed to disclose that: (1) end-market sales of Arctic Cat products were slowing, resulting in a massive glut of old Arctic Cat inventory on dealers' floors; (2) in order to clear out this old inventory, the Company provided significant price discounts, which negatively impacted Textron's earnings; (3) as a result, Textron's positive statements about Arctic Cat's business, operations, and prospects were false and misleading. The truth about Arctic Cat's inventory problems was revealed on October 18, 2018, when Textron reported weak third quarter 2018 earnings and cut its full-year 2018 forecast. The Company blamed the shortfall on heavy discounts issued by Textron to clear out old Arctic Cat inventory. Analysts immediately lowered their price targets on Textron stock citing the inventory concerns at Arctic Cat. On this news, Textron's stock fell $7.29 or 11.25 percent, to close at $57.49 on October 18, 2018, erasing $1.8 billion from its market capitalization.Investors who purchased TXT securities between January 31, 2018 and October 17, 2018 are encouraged to contact the Thornton Law Firm's shareholder rights team at . Interested TXT shareholders have until October 21, 2019 to apply to be lead plaintiff. The class has not yet been certified. Until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.The Thornton Law Firm's securities attorneys are highly experienced in representing individual shareholders and institutional investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
PR NewswireAugust 23, 2019 BOSTON, Aug. 23, 2019 /PRNewswire/ -- Thornton Law Firm LLP announces that a lawsuit has been filed against Textron Inc. ("Textron" or the "Company") (TXT) alleging that Textron violated the federal securities laws. Investors who purchased Textron stock between January 31, 2018 and October 17, 2018, and are interested in participating the lawsuit as a lead plaintiff, are encouraged to contact the Thornton Law Firm and learn more about the case at . Investors may also email the firm to obtain information at shareholder@tenlaw.com or call (617) 531-3917.Textron is a global manufacturer and distributor of small aircrafts and recreational vehicles. On March 6, 2017, Textron expanded its recreational vehicle business by acquiring Arctic Cat Inc. ("Arctic Cat"). Throughout the Class Period, Textron allegedly repeatedly touted Arctic Cat as an important growth business for the Company, reassuring investors about dealer demand, end-market sales and earnings prospects for its Arctic Cat products. Notwithstanding these positive representations to the market, Defendants allegedly failed to disclose that: (1) end-market sales of Arctic Cat products were slowing, resulting in a massive glut of old Arctic Cat inventory on dealers' floors; (2) in order to clear out this old inventory, the Company provided significant price discounts, which negatively impacted Textron's earnings; (3) as a result, Textron's positive statements about Arctic Cat's business, operations, and prospects were false and misleading. The truth about Arctic Cat's inventory problems was revealed on October 18, 2018, when Textron reported weak third quarter 2018 earnings and cut its full-year 2018 forecast. The Company blamed the shortfall on heavy discounts issued by Textron to clear out old Arctic Cat inventory. Analysts immediately lowered their price targets on Textron stock citing the inventory concerns at Arctic Cat. On this news, Textron's stock fell $7.29 or 11.25 percent, to close at $57.49 on October 18, 2018, erasing $1.8 billion from its market capitalization.Investors who purchased TXT securities between January 31, 2018 and October 17, 2018 are encouraged to contact the Thornton Law Firm's shareholder rights team at . Interested TXT shareholders have until October 21, 2019 to apply to be lead plaintiff. The class has not yet been certified. Until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.The Thornton Law Firm's securities attorneys are highly experienced in representing individual shareholders and institutional investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
I called that one when Textron announced they bought Arctic cat. Maybe someone can find that thread... Textron has always been about the numbers. Them letting go some of Arctic Cat long term and senior management staff that had poured their life and souls into that company are going to be hard to replace if they ever want to make a comeback anytime soon. Not looking good for the Cat brand. Loyal cat guys might want to stock up on spare parts......
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I think their snow and dirt vehicles will soon be gone 
yeah **** those commy bastards
Liberals...Commies...same $hit different pile.
Someone will pick up the slack, that’s just business.
Industry is not going anywhere, cat just f... up
I think their snow and dirt vehicles will soon be gone
Yep, The new Tracker brand!
You maybe be right, I most likely be riding a electric wheel chair by then lol
hope it has some torque
Caper11
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I think Dan is right, with the mindset of socialists, environmentalists, Etc, I see a very grim future in the powersports industry.
RXN
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When Cat is no more I will switch from Cat piss to the doolaid
snopro
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Be sad if they go. We need all manufacturers to be healthy in this industry. They bring out the best in each other. I have heard these rumours for quite a while now from friends in the industry. Hope they can get a path figured out to profitability before to long.
I’ll buy whatever brand takes over the Alpha skid if Cat fails....
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