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News Breaks
May 20, 2014
09:17 EDTUPS, UTXUnited 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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October 2, 2015
12:23 EDTUTX, UPSSupply chain issues impact Pratt & Whitney production this summer, WSJ says
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08:03 EDTUPSConcerns about XPO Logistics 'rather overblown,' says Stifel
After meeting with XPO's (XPO) senior management and attending a Q&A session held by its CEO, Stifel says that the Con-way deal will enable the company to compete in new markets and should create "a lot more value over time" than the UPS (UPS)-Coyote deal. The firm is very upbeat on XPO's management team. It keeps a $62 price target and Buy rating on the shares.
07:35 EDTUPSUPS lobbies EU against FedEx-TNT merger, Bloomberg says
UPS (UPS) is lobbying to the EU against FedEx's (FDX) offer to acquire TNT Express (TNTEY), Bloomberg reports, citing people familiar with the EU's investigation of the proposed FedEx-TNT tie-up. UPS' proposal to acquire TNT Express was blocked by the EU two years ago, the report says. Reference Link
06:20 EDTUPSEU may demand concessions in FedEx, TNT merger, WSJ reports
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October 1, 2015
18:19 EDTUTXSikorsky Aircraft awarded $189.43M government contract
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06:10 EDTUPSUPS to take minority stake in tech startup Ally Commerce, WSJ reports
UPS is investing in Ally Commerce, a tech startup that bypasses middlemen and allows brand manufacturers to set up websites and sell directly to consumers, The Wall Street Journal reports. UPS is set to take a minority stake in the startup, though exact terms of the investment have not been disclosed. Reference Link
September 30, 2015
19:57 EDTUTXDoD concerned about 'excessive consolidation' after Lockheed-Sikorsky deal
Frank Kendall, the Under Secretary of Defense for Acquisition, Technology and Logistics, said in a statement earlier Wednesday that alluded to Lockheed Martin's (LMT) acquisition of United Technology's (UTX) Sikorsky unit, "With size comes power, and the department's experience with large defense contractors is that they are not hesitant to use this power for corporate advantage." Kendall added that the DoD would work with Congress to "explore additional legal tools and policy to preserve the diversity and spirit of innovation that have been central to the health and strength of our unique, strategic defense industrial base, particularly at the prime contractor level." Reacting to Kendall's statement, Lockheed spokesman Dan Nelson said, "There is no evidence to support the view that larger defense companies reduce competition or inhibit innovation... We believe that defense contractors should continue to be assessed based on the performance and effectiveness of the products and solutions offered, not on the size of their company."
September 29, 2015
09:34 EDTUPSDetroit Economic Club to hold a luncheon meeting
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September 28, 2015
15:33 EDTUTXPratt & Whitney renews JV agreement for training center in Beijing
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September 24, 2015
08:04 EDTUTXLockheed Martin reports expiration of HSR waiting period for Sikorsky deal
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September 22, 2015
10:34 EDTUTXUnited Technologies drops, nears test of 52-week low
Price was last at $89.10, down over 2.6%. At that price next major support isn't until the 52-week low at $87.17. Resistance is at $89.72.
September 21, 2015
06:18 EDTUPSUPS rolls out 3-D printing service, WSJ reports
UPS has recently rolled out 100 3-D printers at its hub in Louisville, Kentucky in an effort to discover if 3-D printing centers could shorten supply chains or potentially give it a leg up in an emerging market for local production and delivery, the Wall Street Journal reports. The company possibly does not want 3-D printing to disrupt its operations the same way the internet did over a decade ago, the report says. Reference Link

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