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Stock Market & Financial Investment News

News Breaks
July 24, 2014
08:23 EDTUTXUnited Technologies selected by China Airlines for spare parts agreement
United Technologies unit UTC Aerospace Systems has been selected by China Airlines for a five-year exclusive spare parts agreement that includes air management, electric, and engineering systems on select Boeing and Airbus aircraft operated by the airline.
News For UTX From The Last 14 Days
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March 23, 2015
08:13 EDTUTXBofA/Merrill airlines/aerospace analysts hold analyst/industry conference call
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08:12 EDTUTXOtis selected for Hudson Yards development
Otis has entered into a multimillion-dollar agreement with related companies to supply elevator and escalator units for the new Hudson Yards development in Manhattan's West Side. As part of its contract, the world's largest manufacturer and maintainer of people-moving products will provide 73 units for 30 Hudson Yards, a 92-story, 2.6 million-square-foot tower that will be among the first to be constructed at the site. Founded by the inventor of the safety elevator, Otis is a part of UTC Building & Industrial Systems, a unit of United Technologies.
08:01 EDTUTXUTC Aerospace Systems awarded $39M contract from Naval Surface Warfare Center
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March 13, 2015
07:05 EDTUTXUnited Technologies to buyback $2.65B under accelerated share repurchase plans
United Technologies (UTX) disclosed in a regulatory filing that it entered into accelerated share repurchase, or ASR, agreements with each of Goldman Sachs (GS) and Morgan Stanley (MS) to repurchase an aggregate of $2.65B of the company's common stock. Under the terms of the ASR agreements, the company will make a $1.325B payment to each of Goldman Sachs and Morgan Stanley on March 13 and will receive from each of them on the same day an initial delivery of 9,289,426 shares of the company's common stock. The final number of shares to be repurchased will be based on the average of the daily volume-weighted average prices of the company's common stock during the term of the ASR transaction, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR agreements. The final settlement of the transactions under the ASR agreements is expected to occur no later than the fourth quarter of 2015 and may be accelerated at the option of Goldman Sachs or Morgan Stanley, as the case may be.
07:03 EDTUTXUnited Technologies to buyback $2.65B under accelerated share repurchase plans
06:21 EDTUTXUnited Technologies considered selling Sikorsky several times, WSJ says
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05:54 EDTUTXUnited Technologies CEO says Pratt CapEx needs to go down, Financial Times says
United Technologies CEO Greg Hayes said Pratt & Whitney CapEx will "have to come down" to a more sustainable level so that the company can afford the next "innovative investment" when it sees the opportunity, reports the Financial Times. Pratt is in the middle of investing $10B to introduce the new Geared Turbofan engine for narrow-body jets and wil lmake $2.6B capital investments this year. Reference Link
March 12, 2015
08:50 EDTUTXUnited Technologies CEO remarks on possible Sikorsky spinoff, CNBC says
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07:53 EDTUTXUnited Technologies will most likely spin off Sikorsky unit, says UBS
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05:13 EDTUTXUnited Technologies to explore strategic alternatives for Sikorsky Aircraft
United Technologies announced that its board has authorized a review of strategic alternatives for the corporation's Sikorsky Aircraft business, including a potential tax-free spinoff. UTC expects to conclude its strategic review before the end of the year. However, no specific timetable has been set, and there can be no assurance that a spinoff or any other transaction will take place. Likewise, no decision has been made on the timing or terms of any such transaction if one were to occur. UTC president & CEO Gregory Hayes stated, "Looking to the future, we are evaluating whether Sikorsky's unique business as a rotorcraft OEM with a predominately military customer base is best positioned as a stand-alone company, and whether a separation would allow United Technologies to better focus on providing high-technology systems and services to the aerospace and building industries."

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