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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.

Jul 2, 2015

Regulatory rebuffs could force GE to seek other deals, more buybacks

By Lewis Krauskopf

(Reuters) – U.S. and European regulatory resistance could force General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) to seek another buyer for its appliances business and different paths to expand its industrial operations in an ongoing strategic overhaul.

Chief Executive Jeff Immelt wants further focus on manufacturing of higher-margin products such as jet engines and power-generating turbines, and to move away from riskier finance earnings.

Jul 1, 2015

U.S. sues to stop Electrolux acquiring GE’s appliance business

WASHINGTON (Reuters) – The United States filed a lawsuit on
Wednesday to stop Sweden’s Electrolux AB, which owns
the Frigidaire, Kenmore and Tappan brands, from buying General
Electric Co’s appliance business, the Justice Department
said in a statement.

It said the $3.3 billion deal would hurt competition, and
consumers, by combining two of the three top makers of stoves,
cooktops and ovens. Whirlpool Corp, which bought Maytag
in 2006, is the third.

Jun 30, 2015

GE Capital CEO sees asset sale pace speeding up in third quarter

By Lewis Krauskopf

(Reuters) – The head of General Electric Co’s (GE.N: Quote, Profile, Research, Stock Buzz) finance unit said on Tuesday he expects the pace of GE Capital asset sales to accelerate in the third quarter as part of the U.S. conglomerate’s move to become a more focused industrial manufacturer.

GE on April 10 unveiled plans to shed some $200 billion in finance assets, and has since forged agreements for about $23 billion in asset sales.

    • 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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