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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

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.

Jan 15, 2015

Oil price plunge could leave helicopters sputtering

NEW YORK (Reuters) – Tumbling oil prices are starting to ripple through the helicopter industry, which depends on oil companies that shuttle their crews to off-shore sites for a big chunk of its business.

Off-shore oil drilling and production in regions such as the North Sea and Gulf of Mexico have been a key source of demand for helicopter makers including United Technologies’ (UTX.N: Quote, Profile, Research, Stock Buzz) Sikorsky unit, Finmeccanica’s¬†(SIFI.MI: Quote, Profile, Research, Stock Buzz)¬†AgustaWestland and Airbus (AIR.PA: Quote, Profile, Research, Stock Buzz) Helicopters. Textron’s (TXT.N: Quote, Profile, Research, Stock Buzz) Bell Helicopter could soon become a bigger player with a new helicopter.

Dec 24, 2014

Patriotism mixed with jokes as fans stream ‘The Interview’

By Lewis Krauskopf

(Reuters) – Given their first opportunity to watch Sony Pictures’ comedy “The Interview” on Wednesday after a massive cyberattack nearly buried its release, viewers of the film described it as a chance to show their patriotism, as well as laugh.

The Sony Corp unit on Wednesday released “The Interview,” which stars Seth Rogen and James Franco as agents assigned to kill North Korean leader Kim Jong Un, through online video platforms such as Google’s YouTube and Microsoft Corp’s Xbox Video.

Dec 24, 2014

Oil spin-off stocks could face longer road to recovery

NEW YORK, Dec 24 (Reuters) – oAs falling oil prices have
ripped through energy stocks this year, five U.S. corporate
spin-offs in the sector have not escaped the share price carnage
and face a tougher road to recovery than more-established

Shares of three of the newly independent companies have
tumbled more than 60 percent each since separating this summer:
Paragon Offshore Plc, Noble Corp’s spin-off of
drilling assets; Civeo Corp, which provides oilfield
“man camps” and split from Oil States International ; and
Seventy Seven Energy, an oilfield services firm that had
been part of Chesapeake Energy.

Dec 19, 2014

Pratt & Whitney says engine for Airbus jet wins certification

Dec 19 (Reuters) – Pratt & Whitney said on Friday its engine
for Airbus’ A320neo family of narrowbody airplanes has
won certification from the Federal Aviation Administration.

The certification marks a key milestone for the engine and
the A320neo, which is scheduled to enter into service in the
2015 fourth quarter. Pratt’s engine powered the A320neo when it
took its maiden test flight in September. Pratt is a unit of
United Technologies Corp.

Dec 17, 2014

GE sees 2015 profit pressured by ‘sluggish’ oil business

NEW YORK (Reuters) – General Electric Co gave a 2015 profit forecast range on Tuesday that barely included Wall Street’s target as the U.S. conglomerate braced for a “sluggish” oil and gas sector due to plunging crude prices.

GE said it expects earnings from its aviation, power & water and other industrial units to rise at least 10 percent next year as it focuses on increasing its profit share from these businesses to 75 percent by 2016 from 55 percent in 2013. The switch is aimed at reducing GE’s exposure to its finance business.

Dec 16, 2014

GE expects industrials units to drive 2015 profit

NEW YORK (Reuters) – General Electric Co said it expects profit from its industrial units to rise by at least 10 percent in 2015, helped by its power and water, aviation and energy management businesses.

The company is reducing its exposure to its finance business, including through its split-off of Synchrony Financial. Earlier this year, it struck a $16.9 billion deal to buy the power business of France’s Alstom SA.

Dec 15, 2014

Honeywell sees benefit from lower oil prices, gives muted sales view

Dec 15 (Reuters) – Diversified U.S. manufacturer Honeywell
International Inc said on Monday it expected an overall
benefit from the decline in oil prices even as it gave a 2015
sales forecast that slightly trailed Wall Street’s target.

Low oil prices have pressured shares of some industrial
manufacturers that supply to customers in the energy sector, and
have weighed on Honeywell’s PMT segment that sells various
process technologies.

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.

    • 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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