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December 23, 2012
12:41 EDTUTXUnited Technologies to divest UTC Power unit
United Technologies announced it has reached agreement to divest its UTC Power fuel cells unit to ClearEdge Power, based in Hillsboro, Ore. Terms of the agreement were not disclosed. As previously announced, divesting UTC Power is another step forward in UTC's ongoing portfolio transformation to focus on its core of aerospace and building systems. The transaction is subject to customary closing conditions. Closing is expected early in 2013.
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November 23, 2015
12:26 EDTUTXCredit Suisse removes General Electric from focus list after recent run-up
Shares of global industrial giant General Electric (GE) are lower in afternoon trading after Credit Suisse's Investment Policy Committee removed the company's shares from the U.S. Focus List. WHAT'S NEW: In a note to investors this morning, Credit Suisse analyst Julian Mitchel and team noted that the firm's Investment Policy Committee removed GE shares from the U.S. focus list after the recent upward move in shares. The firm, which added GE shares to its Focus List on September 16, said the catalysts that it highlighted at that time are now largely reflected in the share price. WHAT'S NOTABLE: Although it removed GE from its U.S. and Global Focus lists, Credit Suisse maintained its Overweight rating on shares and increased its price target to $34 from $31. The firm sees GE as just starting to accelerate measures to drive up its gross margins, whereas its sector peers have already been splitting, spinning off or selling assets to enhance their profit margins higher for years. With GE selling most of its capital intensive and low-to-no growth Capital business while redirecting capital to higher growth and higher margin industrial business, Credit Suisse said shares deserve a higher premium than its peers Honeywell (HON) and United Technologies (UTX). PRICE ACTION: Shares of General Electric are down 0.65% to $30.46 in midday trading.
November 16, 2015
06:32 EDTUTXUnited Technologies reinstated with a Neutral at Credit Suisse
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