United Technologies News
Credit Suisse increased its price target on United Technologies (UTX) to $135, increased its estimates and set an "outperform" rating due to the company's higher growth outlook.
Lockheed Martin Corp warned on Tuesday that the U.S. Navy's plan to cancel an order for 29 MH-60 helicopters built by Lockheed and Sikorsky Aircraft would result in large termination fees because they are part of five-year agreements signed in 2012. Lockheed Chief Financial Officer Bruce Tanner told reporters that work had already begun on cockpits and other equipment for the helicopters, which were to be ordered in fiscal year 2016, and a better option might be to finish building the aircraft and then sell them to allies. "The cost to terminate partially built helicopters is pretty significant relative to the cost to actually finish those helicopters." Tanner did not provide details on the size of the expected termination fee if the Navy proceeds with its plan to "break" its five-year contracts with both Lockheed, which integrates the radars, cockpit and other equipment on the helicopters, and Sikorsky, the United Technologies Corp unit which builds the aircraft.
United Technologies Corp. (UTX) Q1 2014 Results Earnings Conference Call April 22, 2014 9:00 AM ET Executives Greg Hayes - Senior Vice President and CFO Jay Malave - Director, Investor Relations Analysts ...
United Technologies Corp. said customers of its Carrier heating and cooling business were busy in the first quarter despite frigid weather conditions, suggesting growing strength in the U.S. housing market.
United Technologies Corp reported first quarter 2014 earnings from continuing operations of $1.32 per share versus $1.39 in the year-ago quarter.
The Dow component leading the way higher looks to be United Technologies (NYSE:UTX), which is sporting a $1.54 gain (+1.3%) bringing the stock to $119.84.
Excluding the drag from the Finance sector, total earnings would be up +2.8% on +3.3% higher revenues.
WEST PALM BEACH, Fla., April 22, 2014 /PRNewswire/ -- In cooperation with the U.S. Army, Sikorsky Aircraft Corp . has successfully demonstrated optionally piloted flight of a Black Hawk helicopter, a significant ...