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Stock Market & Financial Investment News

News Breaks
January 31, 2013
05:37 EDTUTXPratt & Whitney broke ground on first manufacturing facility in Singapore
Pratt & Whitney Singapore Manufacturing broke ground on a new facility at the Seletar Aerospace Park. This new production facility will manufacture fan blades and high pressure turbine disks for Pratt & Whitney's PurePower Geared Turbofan engines. This new 180,000 square foot facility will border Pratt & Whitney's existing flagship facility at Seletar , Pratt & Whitney Singapore Component Repair, further expanding the company's 30-year presence in the country. Pratt & Whitney, a division of United Technologies, has invested nearly $110M in the development of these two new facilities. With the construction of this new facility, Pratt & Whitney's work force in Singapore is expected to increase to more than 2,500 people over the next five years, making it home to the company's most comprehensive aftermarket presence in one location.
News For UTX From The Last 14 Days
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September 16, 2014
07:15 EDTUTXPratt expects upcoming F-35 agreements to reduce espenses, Reuters says
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06:54 EDTUTXGE evades geared design in jet engine war versus Pratt, Reuters says
GE's (GE) Chief Technology Officer Mark Little said that the company evaded using a geared design for its new engine for narrowbody aircrafts due to worries about weight and soundness, as the company duels with competitor Pratt & Whitney for engine orders, according to Reuters, citing comments from Little. Pratt & Whitney is part of United Technologies (UTX). Reference Link
06:29 EDTUTXPratt & Whitney close to engine supply deal with Pentagon, WSJ reports
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September 15, 2014
17:36 EDTUTXSikorsky Aircraft awarded $203.57M government contract modification
Sikorsky Aircraft, a United Technologies company, was awarded a $203.57M modification to firm-fixed-price contract W58RGZ-12-C-0008 to procure 18 Green UH-60M Blackhawk helicopters, and 18 foreign military sales Green government furnished property to contractor furnished property, to support the Mexican Air Force. FY14 other procurement funds in the amount of $203.57M were obligated at the time of the award. Estimated completion date is May 30, 2016.
September 6, 2014
17:51 EDTUTXUnited Technologies could return 20%, Barron's says
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September 4, 2014
07:28 EDTUTXPentagon official says close to F-35 engine fix, Reuters says
Pentagon chief arms purchaser Frank Kendall said that the U.S. military is getting closer in figuring out how to fix the engine that fuels Lockheed Martin's (LMT) F-35 fighter jet, while Pratt & Whitney said it will pay to retrofit the 156 engines which were already delivered, according to Reuters, citing comments from Kendall. Pratt & Whitney is the United Technologies (UTX) division that manufacturers the engine. Reference Link
06:52 EDTUTXPratt & Whitney will give compensation for F-35 engine retrofits, Reuters says
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September 2, 2014
08:01 EDTUTXUnited Technologies concerns overdone, says Morgan Stanley
Morgan Stanley said United Technologies underperformance due to China real-estate and Commercial Aero OE outlook are overdone. The firm said Oits China growth is not that impactful and Commercial Aero OE cycle risks are immaterial. The firm believes revenue underperformance will reverse and that consensus estimates are reasonable, positioning shares for outperformance. The firm rates United Technologies an Overweight with a $129 price target.

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