Correspondent, U.S. health team leader
Lewis's Feed
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.

Feb 5, 2014

Defense Department not comfortable if major contractors look to merge: official

NEW YORK (Reuters) – The Defense Department remains skeptical of mergers involving its major contractors, a Pentagon official said on Wednesday, amid industry expectations that defense deal-making could revive this year.

Elana Broitman, whose office at the Defense Department reviews deals that involve national security issues, told an investor conference that “there are far fewer of the large firms, so we’re in a more constrained environment.

Feb 5, 2014

U.S. Defense Dept not comfortable if major contractors look to merge -official

NEW YORK, Feb 5 (Reuters) – The U.S. Defense Department
remains skeptical of mergers involving its major contractors, a
Pentagon official said on Wednesday, amid industry expectations
that defense deal-making could revive this year.

Elana Broitman, whose office at the Defense Department
reviews deals that involve national security issues, told an
investor conference that “there are far fewer of the large
firms, so we’re in a more constrained environment.

Feb 4, 2014

Eaton shares fall as margins, revenue disappoint

Feb 4 (Reuters) – Diversified manufacturer Eaton Corp
issued a forecast for 2014 that was just within
analysts’ estimates, but reported disappointing quarterly profit
margins and revenue on Tuesday, sending shares down more than 2
percent in morning trading.

Eaton reported a fourth-quarter operating profit of $1.08
per share, exceeding analysts’ estimates by 2 cents.

    • 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."
    • Follow Lewis