(Reuters) – Thomson Reuters Corp (TRI.N: Quote, Profile, Research, Stock Buzz) (TRI.TO: Quote, Profile, Research, Stock Buzz) on Wednesday reported higher-than-expected quarterly profit as the company’s biggest division that serves banks and financial institutions showed underlying revenue growth for the first time since 2011.
Revenue at its Financial & Risk segment rose 1 percent in the second quarter when excluding currency and acquisitions.
By Esha Vaish and Lewis Krauskopf
(Reuters) – Honeywell International Inc (HON.N: Quote, Profile, Research, Stock Buzz) has made its largest purchase in more than a decade, agreeing to buy the utility consumption metering business of Britain’s Melrose Industries Plc (MRON.L: Quote, Profile, Research, Stock Buzz) for about $5.1 billion.
The move, announced on Tuesday, is the first major deal for Honeywell, the U.S. diversified industrial manufacturer, since it laid out a five-year plan in March 2014 to target at least $10 billion in acquisitions. Investors have been eager to see how industrial companies use their capital as many of their markets struggle for growth.
July 27 (Reuters) – The executive in charge of United
Technologies Corp’s building systems business, Geraud
Darnis, is leaving the company in the latest management change
at the U.S. conglomerate.
As president of UTC Building & Industrial Systems, Darnis
has been overseeing divisions that accounted for just less than
half of the company’s $65 billion in revenue last year. The
divisions include Otis elevators and Carrier climate control
July 26 (Reuters) – General Electric Co wants to be a
“sizable” player in the market for systems that store energy to
manage power volatility, a sector the company expects to
quadruple to $6 billion by 2020, the head of GE’s energy storage
business told Reuters.
Demand for industrial battery systems is being driven by
increasing reliance on intermittent energy sources such as wind
and solar power and the potential to add energy to the grid
quickly when power needs spike.
NEW YORK (Reuters) – Many U.S. consumer companies are brushing aside worries that China’s weakening economy and sputtering stock market will dramatically damage their bottom lines even with early trouble signs in recent earnings reports.
Most notably, companies dependent on Chinese infrastructure growth, such as United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) and Caterpillar Inc (CAT.N: Quote, Profile, Research, Stock Buzz), are claiming soft second-quarter earnings and a downgraded outlook based on weakened Chinese demand.
July 23 (Reuters) – Diversified manufacturer 3M Co
reported weaker-than-expected second-quarter sales on Thursday
and said it lowered its full-year forecasts for revenue and
earnings due to sluggish global growth.
Quarterly sales inched up less than 1 percent in regions
such as Asia Pacific and Europe, the Middle East and Africa,
even as they climbed 4.1 percent in the United States. The St.
Paul, Minnesota-based company derives more than 60 percent of
its sales from outside the United States.
(Reuters) – A day after sealing the signature move of his eight-month tenure, United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) Chief Executive Greg Hayes suffered his toughest day on Wall Street.
The U.S. conglomerate cut its 2015 profit forecast on Tuesday for the third time this year, sending its shares down more than 7 percent and carving $7 billion off its market value.
July 21 (Reuters) – United Technologies Corp, which
agreed on Monday to sell its Sikorsky helicopter business, cut
its full-year profit outlook on Tuesday as it warned of
pressures in its aerospace systems and Otis elevators
United Tech on Monday said it would sell its Sikorsky
helicopter unit to Lockheed Martin Inc for $9 billion,
after saying in June it planned to exit the business following a
July 20 (Reuters) – Now that United Technologies Corp
Chief Executive Greg Hayes has closed a deal to sell the
conglomerate’s Sikorsky helicopter unit, he may become an
acquirer in his own right.
United Tech shares slipped 0.7 percent on Monday after news
of the $9 billion sale to Lockheed Martin Inc became
WASHINGTON (Reuters) – Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz) has agreed to buy United Technologies Corp’s (UTX.N: Quote, Profile, Research, Stock Buzz) Sikorsky Aircraft for over $8 billion, two sources said on Sunday, cementing a deal that would confirm Lockheed’s dominance in weapons making and giving the Black Hawk helicopter to the maker of the F-35 fighter jet.
The deal will add further heft to Lockheed, which already has annual revenues of around $45 billion and dwarves its nearest competitors, the defense business of Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz) and Northrop Grumman Corp (NOC.N: Quote, Profile, Research, Stock Buzz).