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Feb 4, 2015

United Tech sees possible cost benefit from low commodity prices

Feb 4 (Reuters) – United Technologies Corp could see
savings of as much as $75 million this year from lower prices
for oil and other commodities, although it may have to cede some
of those benefits to customers, its finance chief said on
Wednesday.

Speaking at an investor conference, United Tech Chief
Financial Officer Akhil Johri said the benefit, which could
equate to about 5 cents to 6 cents per share, was not included
in the U.S. conglomerate’s outlook for 2015. United Tech last
month forecast 2015 earnings in a range of $6.85 to $7.05 per
share.

Feb 3, 2015

Eaton shares jump as higher margins help profit top views

Feb 3 (Reuters) – U.S. diversified manufacturer Eaton Corp
Plc posted higher-than-expected quarterly profit on
Tuesday helped by higher margins, sending its shares up more
than 8 percent.

The maker of electrical and power products reported that its
overall segment profit margin for the fourth quarter rose to
15.9 percent from 14.6 percent a year ago.

Feb 2, 2015

General Electric plans to cut 330 Texas jobs in oil unit

Feb 2 (Reuters) – General Electric Co plans to cut
330 jobs in Texas in its oil and gas division, as it grapples
with pressure on the unit from the drop in oil prices.

The U.S. conglomerate notified Texas state regulators of the
planned layoffs at its beam-pumping manufacturing facility in
Lufkin, Texas, which amount to about 45 percent of the staff at
the location.

Jan 26, 2015

United Tech cuts 2015 forecasts on currency worries

Jan 26 (Reuters) – United Technologies Corp on
Monday cut its full-year outlook because of the negative impact
of a stronger dollar even as the U.S. conglomerate reported
higher quarterly earnings on a rise in profit at its aerospace
businesses.

United Tech, which derives some 62 percent of sales from
outside the United States, is hurt by the strengthening dollar
once those sales are translated back into the U.S. currency. In
an interview, Chief Executive Officer Greg Hayes said that, to
offset some of the currency impact, the company would cut costs
and raise its planned share buyback for the year from $2 billion
to $3 billion.

Jan 23, 2015

Honeywell draws strength from US demand

Jan 23 (Reuters) – Honeywell International Inc
reported a slightly better-than-expected quarterly profit, as an
improving U.S. economy helped boost sales at the company’s
division that makes sensors, safety systems and airconditioning
equipment.

Sales in the company’s automation and control business
increased 2.8 percent, partially offseting a 5.8 percent decline
in its aerospace business and helping total sales beat average
analyst estimate.

Jan 23, 2015

GE industrial profit rises despite flagging oil unit sales

Jan 23 (Reuters) – General Electric Co reported a 9
percent rise in quarterly industrial profit on Friday as its
businesses that sell power-generating turbines and jet engines
helped offset weak sales in its oil and gas unit.

Investors have been concerned that plunging oil prices will
hurt GE’s sales of oil equipment if customers slash spending.
Orders in the unit also fell.

Jan 23, 2015

GE profit tops expectations despite flagging oil unit sales

Jan 23 (Reuters) – General Electric Co’s quarterly
earnings topped Wall Street’s estimate on Friday as its business
of selling power-generating turbines drove a 9 percent increase
in industrial profit despite weak sales in its oil and gas unit.

The U.S. conglomerate said its fourth-quarter net income
rose 61 percent to $5.15 billion, or 51 cents per share, from a
year earlier.

Jan 20, 2015

CORRECTED (OFFICIAL)-United Tech brings back ex-Pratt chief as aerospace executive

Jan 20 (Reuters) – United Technologies Corp said on
Tuesday that the former head of its Pratt & Whitney jet engine
division was returning in a new senior aerospace post, as the
company’s new chief executive, Greg Hayes, shapes his management
team.

David Hess, who retired about a year ago after 34 years at
United Technologies, will become senior vice president of
aerospace business development, reporting to Hayes.

Jan 20, 2015

United Tech brings back ex-Pratt chief as aerospace executive

Jan 20 (Reuters) – United Technologies Corp said on
Tuesday that the former head of its Pratt & Whitney jet engine
division was returning in a new senior aerospace post, as the
company’s new chief executive, Greg Hayes, shapes his management
team.

David Hess, who retired about a year ago after 34 years at
United Technologies, will become senior vice president of
aerospace business development, reporting to Hayes.

Jan 15, 2015

United Tech aerospace exec leaving in wake of CEO change

Jan 15 (Reuters) – A top aerospace executive at United
Technologies Corp is leaving in the latest management
change at the U.S. conglomerate.

Alain Bellemare, who has been president of UTC Propulsion &
Aerospace Systems, has decided to leave the company at the end
of the month, United Technologies said on Thursday.

    • 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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