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Jul 21, 2015

United Tech cuts outlook on aerospace, elevator pressures

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
businesses.

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
strategic review.

Jul 20, 2015

With Sikorsky sale done, United Technologies eyes acquisitions

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
official.

Jul 20, 2015

Exclusive: Lockheed to buy United Tech’s Sikorsky for over $8 billion

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).

Jul 19, 2015

Exclusive: Lockheed to buy United Tech’s Sikorsky for over $8 billion – source

WASHINGTON (Reuters) – Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz), the largest U.S. weapons maker, has agreed to buy United Technologies Corp’s (UTX.N: Quote, Profile, Research, Stock Buzz) Sikorsky Aircraft unit, the maker of Black Hawk helicopters, for over $8 billion, a source familiar with the negotiations said on Sunday.

The two companies plan to announce the deal on Monday before both report second-quarter results on Tuesday, said the source, who was not authorized to speak publicly.

Jul 17, 2015

Cost controls buoy GE, Honeywell amid economic pressures

By Lewis Krauskopf

(Reuters) – General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) and Honeywell International Inc (HON.N: Quote, Profile, Research, Stock Buzz) beat expectations for their latest quarterly results on Friday as ongoing cost-cutting efforts paid off with profit margin increases that impressed Wall Street analysts.

At a time multinational industrial manufacturers face pressure from foreign currency swings and weak oil and gas markets, GE and Honeywell also showed the benefits of being diversified with pockets of strength in areas such as aerospace.

Jul 17, 2015

GE’s Immelt stands by intent to close Alstom power purchase

By Lewis Krauskopf

(Reuters) – General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) Chief Executive Jeff Immelt declined on Friday to entertain an alternative to the U.S. conglomerate’s planned purchase of Alstom’s (ALSO.PA: Quote, Profile, Research, Stock Buzz) power business despite resistance from European antitrust regulators.

On GE’s second-quarter conference call on Friday, Immelt was asked about what the company’s “Plan B” might be should it have to walk away from the 12.4 billion euro ($13.5 billion) purchase of the power and grid divisions of French multinational Alstom.

Jul 17, 2015

General Electric gives rosier 2015 outlook as industrial profits rise

By Lewis Krauskopf

(Reuters) – General Electric Co raised its 2015 outlook for its industrial manufacturing businesses on Friday as it reported a 5 percent increase in its quarterly industrial profits, helped by stronger performance in its power division offsetting weak oil segment results.

Revenue for GE’s manufacturing businesses rose 5 percent, when excluding the effects of currency swings and deals, and cost savings helped profit margins improve more than some analysts expected.

Jul 17, 2015

GE gives rosier 2015 outlook as industrial profits rise

July 17 (Reuters) – General Electric Co raised its
2015 outlook for its industrial manufacturing businesses on
Friday as it reported a 5 percent increase in its quarterly
industrial profits, helped by stronger performance in its power
division offsetting weak oil segment results.

Revenue for GE’s manufacturing businesses rose 5 percent,
when excluding the effects of currency swings and deals, and
cost savings helped profit margins improve more than some
analysts expected.

Jul 15, 2015

GE investors seek industrial overhaul update with earnings report

By Lewis Krauskopf

(Reuters) – Three months after General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) shares posted their biggest one-day jump in six years, the stock has lost much of those gains and analysts say the company needs to show its industrial operations can generate stronger profits.

GE is to report second-quarter results on Friday, and analysts on average are forecasting earnings before one-time items of 28 cents per share, down from 39 cents a year ago, according to Thomson Reuters I/B/E/S. 

Jul 9, 2015

United Tech faces growth challenges as Sikorsky divestment nears

July 9 (Reuters) – As United Technologies Corp nears
a decision on how it will divest its Sikorsky helicopter
division, the U.S. conglomerate faces challenges to its
financial outlook that may limit the lift to its stock in the
near term.

UTC shares have declined 5 percent this year, hurt by the
global economic jitters that have spooked shareholders of many
multinational manufacturers, investors and analysts said on
Thursday. Stock market upheaval in China and stalled sales at
some of its businesses also darken the horizon.

    • 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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