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Stock Market & Financial Investment News

News Breaks
February 7, 2014
07:44 EDTUTXUnited Technologies CFO won't comment on Sikorsky spin rumor, AP says
United Technologies CFO Greg Hayes said its Sikorsky helicopter unit has a "bright future," but declined to comment on a report that the conglomerate could sell or spin off the business, according to Associated Press, citing Hayes' comments at an aerospace defense conference. Reference Link
News For UTX From The Last 14 Days
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June 16, 2015
05:34 EDTUTXUTC Aerospace Systems extends long term CARE agreement with Japan Airlines
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05:33 EDTUTXUTC Aerospace Systems CARE program selected by Beijing Capital, Tianjin Airlines
UTC Aerospace Systems has been selected to provide asset management and repair services for components on 44 aircraft operated by Beijing Capital Airlines and Tianjin Airlines. The work will be provided under UTC Aerospace Systems' Comprehensive Accessory Repair and Exchange program. As part of the agreement, UTC Aerospace Systems will provide inventory support and maintenance, repair and overhaul services for the two airlines' Airbus A320 fleet. The 10-year agreement includes support of more than 40 engine accessories on the Pratt & Whitney V2500 engines.
June 15, 2015
16:21 EDTUTXOn The Fly: Top stock stories for Monday
Stocks opened deep in negative territory after Greece failed to reach a bailout compromise over the weekend. The averages saw their lows shortly after the open and then began to rebuild and pared their losses. The averages found a level near noon, then drifted into the close with investors looking forward to the two day FOMC meeting that begins tomorrow. The committee's announcement Wednesday afternoon is sure to be the week's most closely watched event among investors. ECONOMIC EVENTS: In the U.S., industrial production declined 0.2% in May, versus expectations for a 0.2% increase in production, sending capacity utilization in the month down to 78.1%, versus expectations for 78.3% utilization. The Empire manufacturing index, which measures manufacturing activity in New York State, had a reading of -1.98 for June, versus expectations for a +6.0 reading. The NAHB homebuilder sentiment index jumped to 59 in June from 54 in May, which was above the expected increase to a reading of 56. In Europe, talks between Greece and its creditors appeared to go nowhere. The expiration of its bailout package and debt repayments due at the end of the month continue to move closer and concerns about a possible default that could trigger an exit from the euro are rising once again. COMPANY NEWS: Shares of Target (TGT) advanced 98c, or 1.23%, to $80.45 after the retailer agreed to sell its pharmacy and clinic businesses to CVS Health (CVS) for approximately $1.9B. Under the terms of the deal, CVS will acquire Target's more than 1,660 pharmacies and operate them through a store-within-a-store format and a CVS/pharmacy will be included in all new Target stores that offer pharmacy services. CVS, which said it expects this transaction to generate significant sales and prescription volumes upon closing and to generate significant operating profit over the long term, rose 34c, or 0.33%, to $102.58 following the deal announcement... United Technologies (UTX) fell $2.99, or 2.54%, to $114.61 after announcing that it will pursue the separation of the Sikorsky Aircraft business. A decision on whether the helicopter maker will be spun off or sold is expected by the end of the third quarter, the Dow member added. In conjunction with the announcement, United Technologies also lowered its FY15 EPS view to $6.55-$6.85 from $6.85-$7.05, explaining that the cut in its expectations reflects one-time separation costs as well as a decline in Sikorsky's operational expectations for the year due to weakness in the oil and gas markets. MAJOR MOVERS: Among the notable gainers was Cigna (CI), which jumped $16.19, or 11.79%, to $153.50 after The Wall Street Journal was reportedly told by a source that the company and Anthem (ANTM) have been in deal talks for months and Anthem's most recent takeover bid of $175 per share was turned down by its peer. A prior report from the Journal indicated that Humana (HUM) has hired Goldman Sachs to explore strategic alternatives and had held sale talks with companies including Cigna and Aetna (AET). This new report also noted that the largest health insurer by market cap and revenue, UnitedHealth Group (UNH), is "eyeing" Cigna and Aetna. Among the noteworthy losers was Micron (MU), which dropped 89c, or 3.56%, to $24.24 after Morgan Stanley downgraded the stock to Underweight, becoming the second firm in the last week to cut the stock to a sell or equivalent rating. Also lower were shares of SanDisk (SNDK), which fell $1.96, or 2.97%, to $64.14 after the same Morgan Stanley analyst, Joseph Moore, downgraded the stock to Equal Weight from Overweight and lowered his price target on shares to $75 from $80. INDEXES: The Dow fell 107.67, or 0.6%, to 17,791.17, the Nasdaq lost 21.13, or 0.42%, to 5,029.97, and the S&P 500 dropped 9.68, or 0.46%, to 2,084.43.
15:32 EDTUTXUnited Technologies volatility low on tight price movement
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13:42 EDTUTXDBA approves initial phase of Seahawk team's investment with Danish industry
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12:30 EDTUTXOn The Fly: Top stock stories at midday
Stocks on Wall Street opened deep in negative territory, following the lead of European markets that slid after the Greek debt talks over the weekend fell apart without a deal. Another round of poor economic data, including lower than expected readings on industrial production and manufacturing in New York State, did not help the negative tone in the early going. The market began to cut its losses shortly after the open and received a boost from a homebuilder sentiment index that came in higher than expected. ECONOMIC EVENTS: In the U.S., the Empire manufacturing report for June had a reading of -1.98, versus expectations for a +6.0 reading. Industrial production declined 0.2% in May, versus expectations for a 0.2% increase in production, sending capacity utilization in the month down to 78.1%, versus expectations for 78.3% utilization. The NAHB homebuilder sentiment index jumped to 59 in June from 54 in May, which was above the expected increase to a reading of 56. In Europe, talks between Greece and its creditors, including eurozone states, the European Central Bank and the International Monetary Fund, appeared to go nowhere. The expiration of its bailout package and debt repayments due at the end of the month continue to move closer and concerns about a possible default that could trigger an exit from the euro are rising once again. COMPANY NEWS: United Technologies (UTX) slid more than 2% after announcing that it will pursue the separation of the Sikorsky Aircraft business and that a decision on whether helicopter maker will be spun off or sold is expected by the end of the third quarter. In conjunction with the announcement, United Technologies also lowered its FY15 EPS view to $6.55-$6.85 from $6.85-$7.05, explaining that the cut in its expectations reflects approximately 10c-20c of one-time separation costs along with a 10c decline in Sikorsky's operational expectations for the year due to weakness in the oil and gas markets... CVS Health (CVS) struck a deal to acquire Target's (TGT) more than 1,660 pharmacies and operate them through a store-within-a-store format. As part of the deal, a CVS/pharmacy will be included in all new Target stores that offer pharmacy services, the companies added. CVS will buy Target's pharmacy and clinic businesses for approximately $1.9B and said it expects this transaction to generate significant sales and prescription volumes upon closing and to generate significant operating profit over the long term. CVS shares were fractionally higher/lower after the deal announcement, while Target shares rose more than 1%... Cigna (CI) shares surged and 12% higher after The Wall Street Journal said the company turned down a recent $175 per share takeover bid from peer Anthem (ANTM). The report follows a prior Wall Street Journal story that said Humana (HUM) was being eyed by rivals including Cigna and Aetna (AET). Humana has subsequently self-imposed a "quiet period" leading up to its earnings report. MAJOR MOVERS: Among the notable gainers was DealerTrack (TRAK), which jumped 57% after the company agreed to be acquired by Cox Automotive in an all-cash deal valued at $4B, or $63.25 per share. Also higher were Standard Pacific (SPF) and Ryland Group (RYL), which both advanced around 6% after the two jointly announced plans to combine in a "merger of equals" to create a single company that would have an equity market capitalization of approximately $5.2B, an enterprise value of approximately $8.2B, and would own or control roughly 74,000 homesites. The combined company, which will be 59% owned by current Standard Pacific shareholders and 41% owned by Ryland shareholders, will become the fourth-largest public U.S. homebuilder, behind D.R. Horton (DHI), Lennar (LEN) and PulteGroup (PHM). Among the noteworthy losers was iDreamSky (DSKY), which fell 10% after announcing that its board has received a preliminary non-binding proposal letter from the chairman of the board and CEO of the company to acquire it in a "going private" deal for $14 in cash per ADS. Also lower was Micron (MU), which dropped 4% after Morgan Stanley downgraded the stock to Underweight, becoming the second firm since last week to cut the stock to a sell or equivalent rating. INDEXES: Near midday, the Dow was down 118.91, or 0.66%, to 17,779.93, the Nasdaq was down 28.85, or 0.57%, to 5,022.26, and the S&P 500 was down 10.17, or 0.49%, to 2,083.94.
08:01 EDTUTXSikorsky Aircraft announces EASA certification for S-92 Rig Approach
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07:17 EDTUTXBOC Aviation chooses V2500 engine for A320ceo order
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05:55 EDTUTXCIT Group selects V2500 engine for A321ceo order
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05:54 EDTUTXPratt & Whitney receives FAA production certification for PW1100G-JM engine
Pratt & Whitney recently received Federal Aviation Administration approval to add the PW1100G-JM engine that will power the Airbus A320neo aircraft to its production portfolio. The certificates were awarded to Pratt & Whitney's facilities in Middletown, Connecticut and West Palm Beach, Florida. Both facilities have expanded and modernized to introduce state-of-the-art assembly and test capability as the company prepares for its production increase.
05:53 EDTUTXPratt & Whitney and Azul signs memorandum of understanding
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05:47 EDTUTXUnited Technologies sees FY15 EPS ex-Sikorsky $6.35-$6.55
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05:47 EDTUTXUnited Technologies lowers FY15 EPS view to $6.55-$6.85 from $6.85-$7.05
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05:44 EDTUTXPratt & Whitney to undertake 14 different big data analytics projects in 2015
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05:43 EDTUTXPratt & Whitney accelerates activities to support GTF engine customers
In preparation for entry into service in late 2015, Pratt & Whitney, a United Technologies company, has accelerated a variety of activities to ensure customers have a strong support network in place before they begin flying Geared Turbofan engines.
05:42 EDTUTXUnited Technologies announces intention pursue separation of Sikorsky
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05:42 EDTUTXUnited Technologies announces intention pursue separation of Sikorsky
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05:32 EDTUTXCarpenter Technology confident' that operations will begin soon at AL facility
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05:30 EDTUTXUTC Aerospace Systems to establish regional material distribution sites
UTC Aerospace Systems has announced plans to establish regional material distribution sites around the world in 2015 to enhance service and support for its airline customers. The sites will initially provide operators with critical aircraft on ground, or AOG, and reliability hardware for key programs. UTC Aerospace Systems is a unit of United Technologies Corp. The regional distribution centers will serve customers in Europe, Asia, the Americas and the Middle East with material to supplement inventories of operators who have fully provisioned their fleets.
05:29 EDTUTXPratt & Whitney PurePower engines selected by Turkish Airlines
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