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Stock Market & Financial Investment News

News Breaks
May 20, 2014
09:17 EDTUTX, UPSUnited Technologies unit expands 3PL relationship with UPS
Pratt & Whitney, a unit of United Technologies (UTX), announced the expansion of its third-party logistics, or 3PL, relationship with UPS (UPS). As part of the agreement announced, UPS will open a 600,000-square-foot Northeast Logistics Center, or NELC, in Londonderry, New Hampshire, to serve as a centralized distribution center for Pratt & Whitney parts, tooling and supplies. This logistics center will support Pratt & Whitney's manufacturing and global engine assembly and test sites. Set to open in June 2015, UPS will operate the NELC and provide parts receipt, storage, building of manufacturing and assembly kits, packing, inventory management and freight transportation.
News For UTX;UPS From The Last 14 Days
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March 23, 2015
08:13 EDTUTXBofA/Merrill airlines/aerospace analysts hold analyst/industry conference call
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08:12 EDTUTXOtis selected for Hudson Yards development
Otis has entered into a multimillion-dollar agreement with related companies to supply elevator and escalator units for the new Hudson Yards development in Manhattan's West Side. As part of its contract, the world's largest manufacturer and maintainer of people-moving products will provide 73 units for 30 Hudson Yards, a 92-story, 2.6 million-square-foot tower that will be among the first to be constructed at the site. Founded by the inventor of the safety elevator, Otis is a part of UTC Building & Industrial Systems, a unit of United Technologies.
08:01 EDTUTXUTC Aerospace Systems awarded $39M contract from Naval Surface Warfare Center
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March 17, 2015
10:05 EDTUPSUPS management to meet with Oppenheimer
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March 13, 2015
07:05 EDTUTXUnited Technologies to buyback $2.65B under accelerated share repurchase plans
United Technologies (UTX) disclosed in a regulatory filing that it entered into accelerated share repurchase, or ASR, agreements with each of Goldman Sachs (GS) and Morgan Stanley (MS) to repurchase an aggregate of $2.65B of the company's common stock. Under the terms of the ASR agreements, the company will make a $1.325B payment to each of Goldman Sachs and Morgan Stanley on March 13 and will receive from each of them on the same day an initial delivery of 9,289,426 shares of the company's common stock. The final number of shares to be repurchased will be based on the average of the daily volume-weighted average prices of the company's common stock during the term of the ASR transaction, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR agreements. The final settlement of the transactions under the ASR agreements is expected to occur no later than the fourth quarter of 2015 and may be accelerated at the option of Goldman Sachs or Morgan Stanley, as the case may be.
07:03 EDTUTXUnited Technologies to buyback $2.65B under accelerated share repurchase plans
06:21 EDTUTXUnited Technologies considered selling Sikorsky several times, WSJ says
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05:54 EDTUTXUnited Technologies CEO says Pratt CapEx needs to go down, Financial Times says
United Technologies CEO Greg Hayes said Pratt & Whitney CapEx will "have to come down" to a more sustainable level so that the company can afford the next "innovative investment" when it sees the opportunity, reports the Financial Times. Pratt is in the middle of investing $10B to introduce the new Geared Turbofan engine for narrow-body jets and wil lmake $2.6B capital investments this year. Reference Link

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