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Mar 18, 2014

U.S. CEOs a bit more upbeat on economy; growth seen slow: survey

By Lewis Krauskopf

(Reuters) – U.S. chief executive officers are somewhat more positive about the economy, including plans for hiring and capital spending over the next six months, although they expect only tepid growth this year, according to a quarterly survey by the Business Roundtable released on Tuesday.

The CEOs said gross domestic product would rise by 2.4 percent in 2014, which is below-normal growth compared with past economic recoveries, according to the survey.

Mar 13, 2014

United Tech upbeat on sales to 2020; first quarter view lags Street

By Lewis Krauskopf

(Reuters) – Diversified manufacturer United Technologies Corp. (UTX.N: Quote, Profile, Research, Stock Buzz) forecast sales may approach $100 billion by the end of the decade, up from roughly $64 billion expected for 2014, as the company grows at about twice the pace of the global economy.

Despite the upbeat long-term outlook, shares of the large manufacturer of jet engines, elevators and climate control systems fell 2.2 percent after it forecast first-quarter profit below Wall Street’s target. The stock was the biggest decliner in the Dow Jones industrials index .DJI in afternoon trading at $113.21 on the New York Stock Exchange.

Mar 13, 2014

United Tech upbeat on sales to 2020; Q1 view lags Street

March 13 (Reuters) – Diversified manufacturer United
Technologies Corp. forecast sales may approach $100
billion by the end of the decade, up from roughly $64 billion
expected for 2014, as the company grows at about twice the pace
of the global economy.

Despite the upbeat long-term outlook, shares of the large
manufacturer of jet engines, elevators and climate control
systems fell 2.2 percent after it forecast first-quarter profit
below Wall Street’s target. The stock was the biggest decliner
in the Dow Jones industrials index in afternoon trading
at $113.21 on the New York Stock Exchange.

Mar 11, 2014

Tesla, New Jersey clash over direct sales to customers

March 11 (Reuters) – Elon Musk wants to keep selling
electric cars directly to the public in New Jersey, but on
Tuesday the state said no, insisting instead that Tesla Motors
Inc offer its cars through an auto franchise rather
than its own stores.

New Jersey Governor Chris Christie’s administration approved
a rule requiring sales of all new cars to go through franchises.

Mar 11, 2014

Tesla, NJ Governor Christie clash over direct sales to customers

By Lewis Krauskopf

(Reuters) – Tesla Motors Inc said New Jersey Governor Chris Christie’s administration was pushing forward with a regulation that would hamper sales in the state by forcing the electric-car company to use dealers instead of selling directly to customers.

Tesla said on Tuesday the administration was undermining its model of selling cars, while the administration says Tesla has long known the company needed a law change to accommodate its sales model.

Mar 10, 2014

GE CEO sees signs U.S. economy improving, says Europe stabilized

By Lewis Krauskopf

(Reuters) – General Electric Co.’s (GE.N: Quote, Profile, Research, Stock Buzz) chief said on Monday that there are signs the U.S. economy “is getting a little better each day,” although he does not expect a return to the kind of growth seen in the 1990s anytime soon.

Jeff Immelt, chief executive officer of the industrial conglomerate, also said Europe’s economy has stabilized. “While its expansion is anemic, the ‘daily crises’ have been eliminated,” he said in his annual letter to shareholders.

Mar 5, 2014

Honeywell targets over $50 billion sales by 2018, M&A ramp-up

By Lewis Krauskopf

(Reuters) – Honeywell International Inc (HON.N: Quote, Profile, Research, Stock Buzz) on Wednesday set a target of increasing overall company sales to more than $50 billion by 2018 as it seeks to spend $10 billion on acquisitions and continues to expand profit margins.

Honeywell, the U.S. diversified manufacturer of aerospace parts and climate control and security systems, also said it expects earnings to grow at a double-digit pace in percentage terms over the next five years.

Mar 5, 2014

Honeywell targets over 30 billion pounds sales by 2018

By Lewis Krauskopf

(Reuters) – Honeywell International Inc (HON.N: Quote, Profile, Research) on Wednesday set a target of increasing overall company sales to more than $50 billion (£30 billion) by 2018 as it seeks to spend $10 billion on acquisitions and continues to expand profit margins.

Honeywell, the U.S. diversified manufacturer of aerospace parts and climate control and security systems, also said it expects earnings to grow at a double-digit pace in percentage terms over the next five years.

Feb 18, 2014

Pratt, GE battle over billions in jet engine orders

NEW YORK (Reuters) – As the next generation of narrow-body airplanes takes to the skies later this year, makers of the new fuel-efficient engines that power them are battling for market share.

Orders worth $20 billion are up for grabs in the competition between Pratt & Whitney and CFM International. Pratt also stands to gain market prominence as it makes what some experts describe as an industry comeback.

Feb 6, 2014

United Tech sees brightening Sikorsky future amid sale rumors

By Lewis Krauskopf

(Reuters) – United Technologies Corp’s finance chief on Thursday declined to comment on a report the company may sell or spin off its Sikorsky helicopter unit, but pointed to brightening prospects for the maker of Black Hawk helicopters.

“If we comment on this rumor, we’ll have to comment on every subsequent rumor, so I can’t say, ‘Yes, we’re selling Sikorsky,’ or, ‘No, we’re not selling Sikorsky,’” said Chief Financial Officer Greg Hayes, when asked at an investor conference about last week’s report.

    • 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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