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Feb 18, 2015

United Tech CEO eyes acquisitions internationally, at least $5 billion

By Lewis Krauskopf

(Reuters) – United Technologies Corp’s (UTX.N: Quote, Profile, Research) chief executive officer said on Wednesday that he was interested in international deals that would use the company’s “trapped cash” overseas, as the U.S. conglomerate focuses on exploring acquisition opportunities of at least $5 billion.

Speaking at an investor conference, United Tech CEO Greg Hayes said: “You’d love to do an M&A deal internationally to take advantage of all that trapped cash that’s over there. That’s not to say we wouldn’t do a U.S. deal.”

Feb 16, 2015

Backed by ad campaign, ADT sees end to customer losses

By Lewis Krauskopf

(Reuters) – ADT Corp Chief Executive Officer Naren Gursahaney expects the home security company to increase its subscriber base in North America this fiscal year, excluding acquisitions, for the first time since it was spun off from Tyco International Plc more than two years ago.

“We have been in a net customer loss position through last year,” Gursahaney told Reuters in an interview. “We are closing that gap, and we expect this year to be able to turn the tide there.”

Feb 12, 2015

Westinghouse to work on India nuclear plan before liability resolved -CEO

NEW YORK (Reuters) – Westinghouse Electric is hoping to take further steps toward supplying nuclear power plant equipment to India even if issues about liability are not yet resolved, the head of the company said on Thursday.

During President Barack Obama’s visit to New Delhi last month, the two countries announced a “breakthrough” designed to open India’s nuclear power sector to U.S. firms by addressing concerns for liability borne by suppliers.

Feb 10, 2015

Cheaper robots could replace more factory workers: study

By Lewis Krauskopf

(Reuters) – The falling cost of industrial robots will allow manufacturers to use them to replace more factory workers over the next decade while lowering labor costs, according to new research.

Robots now perform roughly 10 percent of manufacturing tasks that can be done by machines, according to the Boston Consulting Group. The management consulting firm projected that to rise to about 25 percent of such “automatable” tasks by 2025.

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.

    • 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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