Key Developments: United Technologies Corp (UTX.N)
97.35USD
17 May 2013
$2.18 (+2.29%)
$95.17
$95.15
$97.40
$95.15
1,329,293
862,783
$97.40
$70.72
Latest Key Developments (Source: Significant Developments)
United Technologies Corp Reaffirms FY 2013 Revenue Guidance-Conference Call
United Technologies Corp announced that broad-based order trend improvement at the end of fiscal 2012. The Company see positive signs in the economy, and it is confident in fiscal 2013 guidance. The Company expects sales of $64 billion to $65 billion. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $65 billion for fiscal 2013. Full Article
United Technologies Corp's UTC Aerospace Systems Selected By Thai Airways International For Wheels And Carbon Brakes On 777-300ER Fleet
United Technologies Corp announced that UTC Aerospace Systems has been selected by Thai Airways International to supply the wheels and carbon brakes for its new fleet of 14 Boeing 777-300ER aircraft. UTC Aerospace Systems, a unit of United Technologies Corp., will provide the equipment through its Wheels & Brakes business in Troy, Ohio. Full Article
United Technologies Corp Completes Divestiture of UTC Power Unit
United Technologies Corp announced that it has completed the divestiture of its UTC Power fuel cells unit to ClearEdge Power, based in Hillsboro, Ore. Divesting UTC Power is another step forward in UTC's ongoing portfolio transformation to focus on its core of aerospace and building systems. Full Article
United Technologies Corp Declares Quarterly Dividend And Authorizes Repurchase Program For 60 Million Shares
United Technologies Corp announced that Board of Directors declared a dividend of 53.5 cents per common share payable March 10 to shareowners of record at the close of business February 15. The ex-dividend date is February 13. The Board also authorized a share repurchase program for up to 60 million shares of the Company's common stock worth approximately $5.4 billion at current prices. The new authorization replaces a previous program, approved in March 2010, which was nearing completion. The Company continues to expect 2013 repurchases to total approximately $1.0 billion. Full Article
United Technologies Corp's Pratt & Whitney To Invest $110 Million In Singapore Plants-Reuters
Reuters reported that United Technologies Corp's Jet engine maker Pratt & Whitney will invest $110 million to set up two facilities in Singapore and expand existing operations. A new manufacturing facility will be ready by 2014 and begin making commercial engine fan blades in 2015 and high-pressure turbine discs by 2016, the Company said. Full Article
United Technologies Corp Reaffirms FY 2013 Guidance-Conferece Call
United Technologies Corp announced that for fiscal 2013, it expects revenue to be in the range of $64-$65 billion and earnings per share (EPS) in the range of $5.85-$6.15. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $65 billion and EPS of $6.04 for fiscal 2013. Full Article
United Technologies Corp's UTC Aerospace Systems Receives Contract To Aeroflot To Provide Wheels and Carbon Brakes On 777-300ER Fleet
United Technologies Corp announced that the Company's unit UTC Aerospace Systems has been selected by Aeroflot, Russia's flagship airline, to supply the wheels and carbon brakes for its new fleet of 16 Boeing 777-300ER aircraft. The company will provide the equipment through its Wheels & Brakes business in Troy, Ohio. The first aircraft is scheduled for delivery in January, 2013. Full Article
United Technologies Corp To Sell Pump And Engine Control Systems Unit
United Technologies Corp announced it has reached agreement to sell the former Goodrich Corporation pump and engine control systems business to Triumph Group, Inc. The transaction is subject to regulatory approvals and customary closing conditions. Closing is expected in the first quarter of 2013. Sale of the pump and engine control systems unit was one of the divestitures required by regulatory authorities as a condition of UTC's acquisition of Goodrich Corporation. Full Article
United Technologies Corp's Sikorsky Aircraft Corp And Boeing Partner For Joint Multi-Role Future Vertical Lift Requirements
Sikorsky Aircraft Corp. a subsidiary of United Technologies Corp. and Boeing has signed a teaming agreement on January 13, 2012 to submit a joint proposal in response to the U.S. Army Aviation Applied Technology Directorate solicitation for the Army's Joint Multi-Role (JMR) Technology Demonstrator (TD) Phase 1 program. The JMR TD supports the Department of Defense's Future Vertical Lift program to deliver the next generation of vertical lift aircraft with greater performance, reliability and affordability. The Sikorsky and Boeing team will compete to build and fly one or more demonstrator aircraft in 2017 to be evaluated for vertical lift performance in a medium-lift-sized aircraft. Full Article
Gencorp Inc Receives Modification to FTC's Second Request in Connection With Proposed Acquisition of Pratt & Whitney Rocketdyne from United Technologies Corporation
Gencorp Inc announced that it has received a modification to the request for additional information (Second Request) from the Federal Trade Commission (FTC) in connection with the Company's proposed acquisition of Pratt & Whitney Rocketdyne from United Technologies Corporation. The modification excludes large and medium liquid rocket engines for launch vehicles and spacecraft from the scope of the FTC's investigation of the proposed acquisition. United Technologies has received a similar modification to the Second Request letter it received. At this time, the FTC's investigation of the proposed acquisition is limited to the Liquid Divert and Attitude Control Systems (LDACS) businesses of the Company and United Technologies. The Company is in the process of preparing its LDACS business for sale to facilitate an expeditious completion of the FTC's investigation. The Company expects to continue working cooperatively with the FTC as it conducts its review of the proposed acquisition. Full Article
Goodrich deal helps United Tech offset defense cuts
- Diversified manufacturer United Technologies Corp reported a better-than-expected profit on Tuesday as its purchase of aircraft components maker Goodrich helped offset U.S. defense cuts and weakness across Europe.
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