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News Breaks
07:08 EDTITT
theflyonthewall.com: ITT's low valuation appears unfounded, WSJ says
ITT (ITT) may seem out of place as a defense and industrial conglomerate these days but its stock price has tripled over the last decade in a market clouded by crisis, according to the Wall Street Journal's "Heard on the Street". Trading at 13.5 times 2009 earnings, the company's valuation, based on the specific type of businesses it's in, deserves another look. A split off of its defense segment may make sense but that doesn't appear likely now. Reference Link :theflyonthewall.com



News For ITT From The Last 14 Days
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March 8, 2010
08:00 EDTITT
theflyonthewall.com: RBC upgrades Career Education, downgrades ITT Corporation

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March 4, 2010
09:02 EDTITT
theflyonthewall.com: ITT awarded task order to support U.S. military prepositioned equipment
ITT has been awarded a contract to provide maintenance, supply and transportation services to the U.S. Army and U.S. Marine Corps on Camp Arifjan and other locations in Southwest Asia. The award is a task order under the Field Installation Readiness Support Team contract vehicle, for one base year with four one-year options. The expected value of work completed in 2010 is approximately $45M, with a total potential contract value of approximately $230M with all options exercised. :theflyonthewall.com

March 2, 2010
15:36 EDTITT
theflyonthewall.com: ITT Corporation reaches patent settlement with Nokia
ITT Corporation (ITT) announced that it has reached a settlement agreement with Nokia (NOK) regarding ITT's patent infringement claim for assisted-Global Positioning System, or GPS, technology. The settlement agreement is expected to resolve all issues between the companies regarding ITT's claim that Nokia mobile devices incorporating assisted-GPS technology infringed ITT's patent rights. Details of the settlement will not be made available. :theflyonthewall.com