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Apr 22, 2014

United Tech broad revenue growth helps profit beat Street

By Lewis Krauskopf

(Reuters) – United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) reported a higher-than-expected quarterly profit on Tuesday, helped by revenue growth across its aerospace and commercial building segments and strong sales in China.

The diversified manufacturer of elevators, jet engines and climate control systems, also lifted the low end of its 2014 earnings forecast.

Apr 17, 2014

GE industrial profit boost underscores strategy, shares up

By Lewis Krauskopf and Ernest Scheyder

(Reuters) – General Electric Co (GE.N: Quote, Profile, Research) posted a 12 percent rise in overall industrial profits on Thursday, as strength in its businesses selling gas turbines, jet engines and oil industry equipment offset weakness in healthcare and transportation.

GE, which is increasingly focusing on its traditional manufacturing businesses over its finance unit, posted an 8 percent increase in industrial revenue, even as overall company revenue fell slightly short of Wall Street’s target.

Apr 17, 2014

GE industrial profits rise 12 percent, shares up

By Lewis Krauskopf and Ernest Scheyder

(Reuters) – General Electric Co posted a 12 percent rise in overall industrial profits on Thursday, as strength in its businesses selling gas turbines, jet engines and oil industry equipment offset weakness in healthcare and transportation.

GE, which is increasingly focusing on its traditional manufacturing businesses over its finance unit, posted an 8 percent increase in industrial revenue, even as overall company revenue fell slightly short of Wall Street’s target.

Apr 16, 2014

GM CEO ‘agonized’ over putting two engineers on paid leave

NEW YORK, April 15 (Reuters) – General Motors Co
Chief Executive Mary Barra said she “agonized” over last week’s
decision to put two GM engineers on paid leave pending the
outcome of an investigation into faulty ignition switches linked
to at least 13 deaths.

Barra’s comments, made to reporters on Tuesday after an
industry conference ahead of the New York Auto Show, referred to
Ray DeGiorgio and Gary Altman, two engineers involved in the
development of the defective switches, which are being replaced
in 2.6 million recalled GM vehicles.

Apr 15, 2014

GM to launch product development group focused on safety

NEW YORK (Reuters) – General Motors Co. (GM.N: Quote, Profile, Research, Stock Buzz) will create a new global product integrity organization that will focus on product safety and quality, said GM Chief Executive Mary Barra in a speech on Tuesday.

“This new way of developing vehicles will provide the highest levels of safety, quality, and customer service, and ensure that a situation like the ignition-switch recall doesn’t happen again,” Barra said in New York.

Apr 14, 2014

GE Capital seen ripe for more slimming after credit card IPO

By Lewis Krauskopf

(Reuters) – As General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) starts spinning off its consumer credit card business, some on Wall Street are hoping that the U.S. industrial conglomerate will eventually slim down its GE Capital finance unit even further.

Commercial real estate, which GE Capital expects to make up 10 percent to 15 percent of its portfolio in the future, stands as another major potential area for GE to abandon, analysts and investors said.

Apr 7, 2014

Honeywell names two vice chairmen, CFO in management shuffle

By Lewis Krauskopf

(Reuters) – Honeywell International Inc (HON.N: Quote, Profile, Research, Stock Buzz) promoted two executives to the position of vice chairman and named a new chief financial officer as part of a series of senior leadership changes announced by the U.S. diversified manufacturer on Monday.

The management shuffle comes after Honeywell unveiled ambitious five-year financial targets last month including boosting company sales to more than $50 billion by 2018, from $39.1 billion last year, as it targets $10 billion in acquisitions.

Apr 4, 2014

Insight – After hard winter, U.S. housing industry sees signs of pickup

NEW YORK (Reuters) – In Indianapolis, an open house event tends to draw 10 people on a good day.

But after the snowiest winter on record for the U.S. Midwestern city, prospective home buyers were champing at the bit: 45 people came to an open house late last month, according to mortgage executive Greg Block.

Apr 4, 2014

After hard winter, U.S. housing industry sees signs of pickup

NEW YORK (Reuters) – In Indianapolis, an open house event tends to draw 10 people on a good day.

But after the snowiest winter on record for the U.S. Midwestern city, prospective home buyers were champing at the bit: 45 people came to an open house late last month, according to mortgage executive Greg Block.

Mar 21, 2014

M&A pickup among U.S. conglomerates may be undercut by prices

NEW YORK (Reuters) – When United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) paid more than $16 billion to buy plane parts-maker Goodrich Corp about two years ago, the U.S. conglomerate’s biggest-ever takeover raised some eyebrows for its rich valuation.

But that is nothing compared to what a buyer would need to cough up today for Rockwell Collins Inc (COL.N: Quote, Profile, Research, Stock Buzz), a similar airplane components maker deemed by Morningstar to be one of the most likely takeout candidates in the industrials sector.

    • 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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