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Dec 12, 2014

United Tech CEO says widebody engine unlikely anytime soon

NEW YORK (Reuters) – The chief executive officer of United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) said on Thursday the company would not offer an engine for widebody planes anytime soon because of the difficult financial case for it.

United Tech’s Pratt & Whitney unit is offering its new geared turbofan engine for smaller commercial airplanes, such as Airbus’ (AIR.PA: Quote, Profile, Research, Stock Buzz) popular A320neo narrowbody jet, and some industry watchers have wondered if Pratt would seek to scale it up for larger planes.

Dec 12, 2014

UTC sees profit below Street; to give portfolio ‘disciplined’ look

By Lewis Krauskopf and Rohit T. K.

(Reuters) – United Technologies Corp’s (UTX.N: Quote, Profile, Research, Stock Buzz) new chief executive on Thursday forecast 2015 profit below Wall Street’s target as profit falls at its Pratt & Whitney jet engine business, and said there were “no sacred cows” with the conglomerate’s businesses.

In his debut as CEO after six years as the U.S. conglomerate’s finance chief, Greg Hayes said the company would look at the company’s portfolio in a “disciplined” way, following speculation on Wall Street that he might be open to shaking up the company’s structure.

Dec 11, 2014

United Technologies 2015 profit forecast misses estimate

By Lewis Krauskopf and Rohit T. K.

(Reuters) – United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) forecast profit and revenue for 2015 to be below market estimates, as it expects profit to fall at its Pratt & Whitney military and commercial original equipment business.

Shares of the company, known for Otis elevators, fell 3 percent in extended trading on Thursday.

Dec 10, 2014

New United Tech CEO to take stage amid Wall Street break-up talk

By Lewis Krauskopf

(Reuters) – The change atop United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) has set off speculation the U.S. conglomerate may eventually shake up its diverse industrial businesses, including possibly divesting its Sikorsky helicopter unit.

Shares of United Technologies have climbed 4 percent since the company announced on Nov. 24 that Chief Financial Officer Greg Hayes replaced Louis Chenevert, who retired as chief executive officer, effective immediately.

Dec 2, 2014

Johnson Controls CEO sees some U.S. construction strength

NEW YORK (Reuters) – U.S. construction of institutional buildings such as schools and government facilities is picking up after years of sluggishness, the chief executive of manufacturer Johnson Controls Inc (JCI.N: Quote, Profile, Research, Stock Buzz) said on Tuesday.

As a large maker of climate control systems, Johnson Controls is one of a swath of industrial manufacturers that depend on non-residential construction for demand for their products.

Nov 24, 2014

New UTC chief known to Wall Street, giving solace amid abrupt move

By Lewis Krauskopf

(Reuters) – United Technologies Corp’s appointment of Chief Financial Officer Gregory Hayes as chief executive is providing investors some comfort as they try to understand the abrupt departure of previous leader Louis Chenevert.

United Technologies shares fell 1.4 percent on Monday after the company announced that Chenevert had stepped down as CEO and chairman effective immediately. The maker of jet engines, elevators and climate control systems gave no public indication of the transition ahead of time, catching Wall Street off guard.

Nov 24, 2014

United Tech CEO steps down, replaced by CFO in abrupt change

By Lewis Krauskopf

(Reuters) – United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) Chief Executive Officer Louis Chenevert has retired immediately and is being replaced by the company’s finance chief, the diversified U.S. manufacturer said on Monday, an abrupt change that caught Wall Street off guard.

The maker of Otis elevators, Pratt & Whitney jet engines and Sikorsky helicopters said in a press release that Chenevert, 57, informed the United Tech board of his retirement.

Nov 19, 2014

GE wind-power business looks to global expansion, data services: executive

By Lewis Krauskopf

(Reuters) – General Electric Co looking to grow its wind-power business by increasing installations of turbines globally while providing services such as data analytics to improve their performance, a top company energy executive said on Wednesday.

The U.S. conglomerate plans to have a presence with its wind turbine business in 35 or more countries next year, up from eight in 2003.

Nov 19, 2014

GE wind-power business looks to global expansion, data services- exec

Nov 19 (Reuters) – General Electric Co looking to
grow its wind-power business by increasing installations of
turbines globally while providing services such as data
analytics to improve their performance, a top company energy
executive said on Wednesday.

The U.S. conglomerate plans to have a presence with its wind
turbine business in 35 or more countries next year, up from
eight in 2003.

Nov 12, 2014

GE says infrastructure demand to boost orders for developing markets

NEW YORK (Reuters) – General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) expects developing markets to be a “huge engine” of growth due to demand for the company’s products that provide infrastructure in these countries, GE’s top international executive said on Wednesday.

GE, which is increasingly focused on industrial products such as jet engines, power turbines and oil and gas equipment, should see double-digit percentage increases in orders in developing countries for the “foreseeable future,” said John Rice, vice chairman and president of GE’s global growth organization.

    • 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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