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July 15, 2014
08:17 EDTUTXPhilippine Airlines to power ten aircrafts with Pratt & Whitney Engines
Philippine Airlines has executed a Letter of Intent to power its order of 10 Airbus A320neo aircraft with Pratt & Whitney PurePower engines. The PurePower Geared Turbofan engine family has completed nearly 10,000 hours of testing and more than 1,400 hours of flight testing. Pratt & Whitney is a United Technologies company. The Letter of Intent between Philippine Airlines and Pratt & Whitney includes a long-term maintenance service agreement.
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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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