Correspondent, U.S. health team leader
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Aug 1, 2014

Corporate reports signal stronger US commercial building recovery

By Lewis Krauskopf

(Reuters) – Rising orders and increasing optimism from companies like United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) and Tyco International (TYC.N: Quote, Profile, Research, Stock Buzz) point to a strengthening recovery in the U.S. commercial construction market, which has been limping back since bottoming more than three years ago.

The anecdotal evidence, buttressed by a strengthening index of architectural billings that is considered a leading indicator of commercial construction spending, bodes well for a variety of manufacturers whose fortunes are linked to construction spending for everything from hotels and offices to hospitals and schools, which remain far off their peaks from about six years ago.

Jul 29, 2014

Eaton tempers profit view, dents hopes for vehicle spin-off

July 29 (Reuters) – Eaton Corp tempered its
full-year profit forecast on Tuesday due to weaker margins in
its electrical systems business and dented some Wall Street
hopes for a near-term spin-off of its vehicle business, sending
its shares down 6 percent.

The U.S. manufacturer of power products and systems also
said bookings fell 2 percent for its hydraulics segment, while
second-quarter profit missed analysts’ target.

Jul 25, 2014

Sluggish Latin American results show risks for U.S. companies

By Lewis Krauskopf

(Reuters) – U.S. companies are reporting sluggish financial results in Latin America, showing the risks they face in relying on Brazil and other emerging markets in the region for growth.

Companies ranging from Ford Motor Co to 3M Co and Caterpillar Inc reported second quarter earnings that highlighted weakness in their Latin or South American operations.

Jul 22, 2014

United Tech posts 8 pct profit rise, gives rosier outlook

July 22 (Reuters) – United Technologies Corp posted
an 8 percent increase in quarterly profit, topping estimates, as
sales of its elevators and aircraft parts helped offset a
sluggish performance in its Pratt & Whitney engine business.

The diversified U.S. manufacturer also gave a more bullish
profit outlook for 2014.

Jul 18, 2014

GE’s $3 bln credit card IPO pegged to U.S. consumer recovery

July 18 (Reuters) – The success of General Electric Co’s
impending initial public offering for its private-label
credit card unit could ride on investors’ willingness to bet
that a lukewarm consumer-led U.S. economic recovery heats up.

GE began its investor road show on Friday for the IPO of the
unit, to be called Synchrony Financial, as it revealed new
details about the business.

Jul 18, 2014

GE profit rises 13 percent, expects retail finance IPO end-July

By Lewis Krauskopf

(Reuters) – General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) reported a 13-percent jump in quarterly net income Friday on improved sales of its jet engines and oil and gas equipment, and said it was targeting the initial public offering of its private-label credit-card business for the end of the month.

The U.S. conglomerate has been planning a partial IPO of the North American retail finance business, to be called Synchrony Financial, as part of a plan to exit the business and slim down its overall GE Capital unit.

Jun 6, 2014

Hertz to restate 2011 results and review 2012, 2013

June 6 (Reuters) – Hertz Global Holdings Inc said it
would restate or correct financial results for the past three
years to fix accounting errors originating in 2011, sending the
car rental company’s shares down as much as 11.5 percent on

First-quarter results are likely to be below market
estimates due to costs related to the accounting review, the No.
2 U.S. car rental firm said in a regulatory filing that signaled
further possible financial adjustments ahead.

Jun 5, 2014

UTC sees no big impact from Bombardier engine-test failure

By Lewis Krauskopf and Solarina Ho

(Reuters) – The failure of a Pratt & Whitney jet engine during testing on a new Bombardier Inc plane last week is unlikely to have a significant impact on Bombardier’s testing schedule, an executive at Pratt parent United Technologies Corp said on Thursday.

“We’re working now with Bombardier on a plan to resume testing here in the next few weeks,” United Tech Chief Financial Officer Greg Hayes told an investor conference.

Jun 1, 2014

Pratt attacks costs in ramp-up to make new jet engine

June 1 (Reuters) – Pratt & Whitney is working to preserve
profit margins as it gears up production of a highly efficient
new jet engine for planes such as the Airbus A320neo,
coming out next year, the company’s president said.

Pratt hopes the new engine, known as the Geared Turbofan or
GTF, will help cement its comeback in the cut-throat market for
powering jetliners. But engine sales tend to generate slim
profit margins at the front end, which could squeeze profits at
Pratt and its parent United Technologies Corp.

May 30, 2014

Bombardier CSeries flight testing halted after engine problem

TORONTO, May 30 (Reuters) – Bombardier Inc’s new
CSeries jetliner suffered an “engine-related incident” during
stationary maintenance testing on Thursday, prompting a halt to
flight tests and dealing another blow to the plane maker’s
effort to compete with Boeing and Airbus in the narrow-body

Bombardier said on Friday it was investigating the incident
with Canadian authorities and engine maker Pratt & Whitney, 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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