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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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February 4, 2016
11:06 EDTUTXUnited Technologies reaffirms FY16 adjusted EPS view of $6.30-$6.60
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07:08 EDTUTXCowen to hold a forum
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January 27, 2016
16:36 EDTUTXOn The Fly: Top stock stories for Wednesday
Stocks began the session in negative territory as sliding oil prices and disappointing guidance from Apple (AAPL) and Boeing (BA) had investors on the defensive. The averages reversed and moved into positive territory following a rally in oil, which came despite the weekly Department of Energy inventory build up coming in higher than expected. The market pared its gains heading into the Fed's rate announcement and then moved sharply lower following the central banks comments about lower growth in U.S. in 2016. Other comments were less dovish than expected and the market sold off into the close. ECONOMIC EVENTS: In the U.S., new home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. The FOMC rate decision was issued at 2:00 pm, with the Federal Reserve keeping interest rates unchanged and commenting that the "Committee expects that economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate... Inflation is expected to remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further." COMPANY NEWS: Apple (AAPL) declined $6.55, or 6.55% to $93.44 after the tech giant reported first quarter earnings that topped consensus estimates last night, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China... Apple was not the worst performer in the Dow, however, with that distinction going to Boeing (BA). Shares of the commercial airplane maker and defense contractor plummeted $11.43, or 8.93%, to $116.58 after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Shell (RDS.A, RDS.B) investors approved the company's proposed acquisition of BG Group (BRGYY), with roughly 83% of votes cast in favor of the deal. MAJOR MOVERS: Among the notable gainers was SunEdison (SUNE), which added 8.7% to its already meaningful gains over the past several days after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote. Also higher was Freeport McMoRan (FCX), which gained 10.95% to $4.66 after Indonesia's energy minister said he is "certain" of finding a solution to extend the company's copper export permit and as analysts applauded the company's decision to consider selling mining assets to pay down debt. Meanwhile, United Technologies (UTX), Biogen (BIIB) and Norfolk Southern (NSC) rose 0.19%, 5.15% and 1.44%, respectively, following their earnings reports. Among the noteworthy losers was DeVry (DV), which crashed 15.4% to $20.09 after the FTC filed suit over its allegedly deceptive marketing, with the Department of Education also announcing actions against the for-profit education company. Also lower were U.S. Steel (X), VMware (VMW) and Anthem (ANTM), which lost 14.35%, 9.82% and 4.74%, respectively, following their earnings reports. INDEXES: The Dow fell 222.77, or 1.38%, to 15,944.46, the Nasdaq lost 99.51, or 2.18%, to 4,468.17, and the S&P 500 declined 20.68, or 1.09%, to 1,882.95.
12:11 EDTUTXOn The Fly: Top stock stories at midday
Stocks began the session in negative territory and proceed to lose additional ground after the open. Despite another disappointing weekly Department of Energy inventory report, which pointed to larger than expected builds of both oil and gas stockpiles, the price of crude moved higher in later morning trading, taking equities up with it. Fed watchers have zero expectation that the central bank will announce an interest rate hike later today, but are hoping for a dovish policy statement to be issued in conjunction with the end of the latest FOMC meeting. ECONOMIC EVENTS: In the U.S., new home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. The FOMC rate decision is due out at 2 pm ET and 100% of 104 analysts surveyed by Bloomberg were aligned in predicting no change to benchmark U.S. interest rates will be announced today. While their is no chance seen that the central bank will raise rates, the language in the statement will be closely examined for any clues on the Fed's thinking about when the next rate may be coming. COMPANY NEWS: Shares of Apple (AAPL) declined about 5% after the tech giant reported first quarter earnings that topped consensus estimates last night, but also issued revenue guidance for the new quarter that missed expectation. The company was noted by several analysts as having a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China... Apple was not the worst performer in the Dow, however, as that distinction goes to Boeing (BA). Shares of the commercial airplane maker and defense contractor plummeted 7% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast. Conversely, United Technologies (UTX), which is also in the Dow and also involved in aerospace and defense, gained 2% after backing its adjusted earnings outlook for fiscal 2016. MAJOR MOVERS: Among the notable gainers was SunEdison (SUNE), which rallied 12% after the company and David Einhorn's Greenlight Capital agreed to new corporate governance initiatives, including appointing Claire Gogel to its board and amending its bylaws to provide that it will not make equity issuances for two years without supermajority vote of the board. Also higher were Commvault (CVLT), Hess (HES) and Biogen (BIIB), which gained 13%, 10% and 8%, respectively, after reporting quarterly earnings. Among the noteworthy losers was DreamWorks Animations (DWA), which fell 4.5% after the stock was downgraded to Sell at Topeka. Also lower were U.S. Steel (X), VMware (VMW), and Textron (TXT), which were down 12%, 8.5%, and 8%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was up 37.60, or 0.23%, to 16,204.83, the Nasdaq was down 9.88, or 0.22%, to 4,557.79, and the S&P 500 was up 9.54, or 0.5%, to 1,913.17.
09:13 EDTUTXUnited Technologies says slow GTF production ramp in 1H16
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08:54 EDTUTXUnited Technologies sees signs that Europe recovery 'continues apace'
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08:44 EDTUTXUnited Technologies expects 2016 to be backend loaded
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08:42 EDTUTXUnited Technologies seeing continued good momentum in North America
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08:35 EDTUTXUnited Technologies expects restructuring plan to result in $900M in savings
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08:26 EDTUTXUnited Technologies expects share repurchase of $3B in 2016
The company also continues to expect share repurchase of $3 billion in 2016, beyond the repurchases that will be completed in 2016 under the previously announced $6 billion accelerated share repurchase program. UTC continues to assume a $1 billion to $2 billion placeholder for acquisitions in 2016.
08:26 EDTUTXUnited Technologies sees FY16 organic growth of 1%-3%
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08:25 EDTUTXUnited Technologies backs FY16 free cash flow 90%-100% of net income
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07:04 EDTUTXUnited Technologies backs FY16 adjusted EPS view of $6.30-$6.60, consensus $6.54
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07:02 EDTUTXUnited Technologies reports Q4 adjusted EPS $1.53, consensus $1.52
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06:59 EDTUTXOptions expected to be active: AAPL FB AMZN BIIB GD HES TXT BA UTX X T
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January 26, 2016
14:32 EDTUTXNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Novartis (NVS), consensus $1.18... Boeing (BA), consensus $1.26... United Technologies (UTX), consensus $1.52... Biogen (BIIB), consensus $4.08... EMC (EMC), consensus 65c... General Dynamics (GD), consensus $2.38... Anthem (ANTM), consensus $1.22... Illinois Tool Works (ITW), consensus $1.21... State Street (STT), consensus $1.18... Norfolk Southern (NSC), consensus $1.24... Progressive (PGR), consensus 47c... St. Jude Medical (STJ), consensus $1.01... Rockwell Automation (ROK), consensus $1.33... Textron (TXT), consensus 83c... Hess (HES), consensus ($1.47)... Cliffs Natural (CLF), consensus (26c).
07:36 EDTUTXUnited Technologies volatility elevated into Q4 and outlook
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January 25, 2016
06:52 EDTUTXOther bidders could emerge for Tyco, says JPMorgan
After the Wall Street Journal reported that Johnson Controls (JCI) is in advanced talks to acquire with Tyco (TYC), JPMorgan analyst Stephen Tusa says other bidders could emerge. United Technologies (UTX) may have interest in Tyco and could likely extract more value than Johnson from the lower tax rate, Tusa tells investors in a research note. The analyst has an Overweight rating on Tyco with a $42 price target. The stock closed Friday up 61c to $30.60.

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