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05.04.2019 17:36:00

Here's Why Shares of Triumph Group Surged on Friday

Shares of Triumph Group (NYSE: TGI) soared 20% at the open Friday morning after the long-struggling aerospace supplier said it would seek a buyer for its aerospace structures unit. Shares later settled to an 11.3% gain as of 11:25 a.m. EDT today.Triumph shares have lost more than 60% of their value over the last five years as the company, a rollup of dozens of aerospace component businesses, has been weighed down by high costs and sluggish growth. CEO Daniel J. Crowley was appointed in January 2016 with a mandate to simply operations and boost profitability, and during his tenure he has consolidated operations and divested some of its poorer performing units.A Triumph-made wing assembly. Image source: Triumph Group.Continue reading
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