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Jan 26, 2015

United Tech cuts 2015 forecasts on currency worries

Jan 26 (Reuters) – United Technologies Corp on
Monday cut its full-year outlook because of the negative impact
of a stronger dollar even as the U.S. conglomerate reported
higher quarterly earnings on a rise in profit at its aerospace
businesses.

United Tech, which derives some 62 percent of sales from
outside the United States, is hurt by the strengthening dollar
once those sales are translated back into the U.S. currency. In
an interview, Chief Executive Officer Greg Hayes said that, to
offset some of the currency impact, the company would cut costs
and raise its planned share buyback for the year from $2 billion
to $3 billion.

Jan 23, 2015

Honeywell draws strength from US demand

Jan 23 (Reuters) – Honeywell International Inc
reported a slightly better-than-expected quarterly profit, as an
improving U.S. economy helped boost sales at the company’s
division that makes sensors, safety systems and airconditioning
equipment.

Sales in the company’s automation and control business
increased 2.8 percent, partially offseting a 5.8 percent decline
in its aerospace business and helping total sales beat average
analyst estimate.

Jan 23, 2015

GE industrial profit rises despite flagging oil unit sales

Jan 23 (Reuters) – General Electric Co reported a 9
percent rise in quarterly industrial profit on Friday as its
businesses that sell power-generating turbines and jet engines
helped offset weak sales in its oil and gas unit.

Investors have been concerned that plunging oil prices will
hurt GE’s sales of oil equipment if customers slash spending.
Orders in the unit also fell.

Jan 23, 2015

GE profit tops expectations despite flagging oil unit sales

Jan 23 (Reuters) – General Electric Co’s quarterly
earnings topped Wall Street’s estimate on Friday as its business
of selling power-generating turbines drove a 9 percent increase
in industrial profit despite weak sales in its oil and gas unit.

The U.S. conglomerate said its fourth-quarter net income
rose 61 percent to $5.15 billion, or 51 cents per share, from a
year earlier.

Jan 20, 2015

United Tech brings back ex-Pratt chief as aerospace executive

Jan 20 (Reuters) – United Technologies Corp said on
Tuesday that the former head of its Pratt & Whitney jet engine
division was returning in a new senior aerospace post, as the
company’s new chief executive, Greg Hayes, shapes his management
team.

David Hess, who retired about a year ago after 34 years at
United Technologies, will become senior vice president of
aerospace business development, reporting to Hayes.

Jan 15, 2015

United Tech aerospace exec leaving in wake of CEO change

Jan 15 (Reuters) – A top aerospace executive at United
Technologies Corp is leaving in the latest management
change at the U.S. conglomerate.

Alain Bellemare, who has been president of UTC Propulsion &
Aerospace Systems, has decided to leave the company at the end
of the month, United Technologies said on Thursday.

Jan 15, 2015

Oil price plunge could leave helicopters sputtering

NEW YORK, Jan 15 (Reuters) – Tumbling oil prices are
starting to ripple through the helicopter industry, which
depends on oil companies that shuttle their crews to off-shore
sites for a big chunk of its business.

Off-shore oil drilling and production in regions such as
the North Sea and Gulf of Mexico have been a key source of
demand for helicopter makers including United Technologies’
Sikorsky unit, Finmeccanica’s AgustaWestland
and Airbus Helicopters. Textron’s Bell
Helicopter could soon become a bigger player with a new
helicopter.

Dec 24, 2014

Patriotism mixed with jokes as fans stream ‘The Interview’

By Lewis Krauskopf

(Reuters) – Given their first opportunity to watch Sony Pictures’ comedy “The Interview” on Wednesday after a massive cyberattack nearly buried its release, viewers of the film described it as a chance to show their patriotism, as well as laugh.

The Sony Corp unit on Wednesday released “The Interview,” which stars Seth Rogen and James Franco as agents assigned to kill North Korean leader Kim Jong Un, through online video platforms such as Google’s YouTube and Microsoft Corp’s Xbox Video.

Dec 24, 2014

Oil spin-off stocks could face longer road to recovery

NEW YORK, Dec 24 (Reuters) – oAs falling oil prices have
ripped through energy stocks this year, five U.S. corporate
spin-offs in the sector have not escaped the share price carnage
and face a tougher road to recovery than more-established
companies.

Shares of three of the newly independent companies have
tumbled more than 60 percent each since separating this summer:
Paragon Offshore Plc, Noble Corp’s spin-off of
drilling assets; Civeo Corp, which provides oilfield
“man camps” and split from Oil States International ; and
Seventy Seven Energy, an oilfield services firm that had
been part of Chesapeake Energy.

Dec 19, 2014

Pratt & Whitney says engine for Airbus jet wins certification

Dec 19 (Reuters) – Pratt & Whitney said on Friday its engine
for Airbus’ A320neo family of narrowbody airplanes has
won certification from the Federal Aviation Administration.

The certification marks a key milestone for the engine and
the A320neo, which is scheduled to enter into service in the
2015 fourth quarter. Pratt’s engine powered the A320neo when it
took its maiden test flight in September. Pratt is a unit of
United Technologies Corp.

    • About Lewis

      "I help coordinate coverage of healthcare companies for Reuters in the United States. I also cover health insurers, pharmacy benefit managers, generic drugmakers and pharmaceutical companies."
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