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Stock Market & Financial Investment News

News Breaks
March 18, 2013
12:06 EDTTGI, UTXTriumph Group completes acquisition of Goodrich Pump & Engine Control Systems
Triumph Group (TGI) announced the completion of the previously announced acquisition of the pump and engine control systems business of Goodrich Corporation -- Goodrich Pump & Engine Control Systems -- from United Technologies Corporation (UTX). The acquired business will continue to be led by Alec Searle and will operate as Triumph Engine Control Systems, LLC and be included in the Aerospace Systems Group. The business is expected to add approximately $195M in annual revenue and to be immediately accretive to earnings in fiscal year 2014.
News For TGI;UTX From The Last 14 Days
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January 23, 2015
10:02 EDTUTXOn the Fly: Analyst Initiation Summary
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06:07 EDTUTXUnited Technologies initiated with a Buy at Citigroup
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January 20, 2015
17:02 EDTUTXUnited Technologies appoints David Hess to lead Aerospace business development
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January 16, 2015
15:42 EDTTGIAir Industries names Jim Sartori as Chief Accounting Officer
On January 15, Scott Glassman resigned as the Chief Accounting Officer of Air Industries Group (AIRI) and Jim Sartori was appointed as his successor. Sartori joined the company in September 2014. From May 2008 until August 2014, Sartori was employed as Controller of Triumph Structures Long Island, a subsidiary of Triumph Group (TGI), a manufacturer of structural and dynamic parts and assemblies for commercial and military aerospace programs.
January 15, 2015
17:06 EDTUTXUnited Technologies announce changes to aerospace leadership
United Technologies announced it will streamline its aerospace organization and leadership structure to provide greater focus on serving customers. Alain Bellemare, president and CEO of UTC Propulsion & Aerospace Systems, or PAS, has elected to leave the company at the end of the month. He will continue to serve as a consultant to UTC. As a result of Bellemare's decision and the successful integration of Goodrich Corporation, UTC is streamlining its aerospace operations by eliminating the PAS organization. Pratt & Whitney and UTC Aerospace Systems, both formerly under the PAS structure, will continue as stand-alone business units. As a result of this organizational change, Pratt & Whitney president Paul Adams will report directly to United Technologies CEO Gregory Hayes, as will Dave Gitlin, who has been promoted to president of UTC Aerospace Systems, from his former position as leader of that company's Aircraft Systems segment.
10:29 EDTUTXRockwell Collins outlook assumes zero for Learjet 85, says Wells Fargo
After Bombardier (BDRBF) announced it will 'pause' development of its all-composite Learjet-85 business jet due to weak demand, Wells Fargo points out that Rockwell Collins (COL) supplies the Learjet 85's avionics. Wells finds it unclear if Bombardier's decision will trigger any impairment for Rockwell, but notes the company already stated its FY15 revenue guidance assumes zero for Learjet 85. The firm adds United Technologies unit Pratt & Whitney Canada supplies the Learjet 85's engines while LMI Aerospace (LMIA) takes part in the plane's engineering. Wells estimates about 3% of LMI's recent sales have been tied to Learjet 85 development.
January 13, 2015
07:40 EDTUTXCommercial aircraft demand outlook still positive, says Bernstein
Bernstein continues to have a positive outlook on commercial aircraft demand for 2015, as the firm does not see $50 Brent oil as a negative for the sector unless the price stays below that level for the long-term. Bernstein thinks the general demand outlook for the sector is positive, and it identifies Boeing (BA) and United Technologies (UTX) as two of its favorite names in the space.

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