United Technologies Corp. (UTX) is scheduled to report its Q2 2012 results on July 26, 2012, before the market opens. The street expects EPS and revenue of $1.41 and $14.45B, respectively.
In this article I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from UTX and the news from its closest competitors.
Recent EPS Actuals vs. Estimates
In the last quarter UTX reported $1.31 EPS, beating analyst estimates of $1.20.
The consensus EPS estimate is $1.41 based on 20 analysts' estimates, same as $1.41 a year ago. Revenue estimates are $14.45B, down from $15.08B a year ago. The median target price by analysts for the stock is $94.00.
Average recommendation: Buy
Analyst Upgrades and Downgrades
- On April 11, 2012, Deutsche Bank reiterated Buy rating for the company.
- On March 16, 2012, Oppenheimer reiterated Outperform rating for the company.
- On July 23, 2012, United Technologies Corp announced it has reached agreement to sell its Rocketdyne unit, currently part of Pratt & Whitney, to GenCorp Inc. for $550 million.
- On July 19, 2012, Sikorsky Aircraft Australia Limited announced the signing of a four-year agreement with the Australian Defence Force (ADF) for ongoing logistics and engineering support for the Commonwealth of Australia's fleet of BLACK HAWK (S-70A) and SEAHAWK (S-70B) helicopters.
- On July 19, 2012, Reuters reported that United Technologies Corp. is in final discussions to sell its Rocketdyne business to Gencorp Inc, a maker of aerospace propulsion systems.
- On July 16, 2012, Onur Air has selected Hamilton Sundstrand Corporation for a long-term agreement to be the maintenance provider for the APS3200 Auxiliary Power Unit (APU) for its fleet of nine Airbus A320 family aircraft, equipped with the APS3200.
- On July 16, 2012, Oman Air has selected Hamilton Sundstrand Corporation for a long-term agreement to be the maintenance provider for the APS2300 Auxiliary Power Unit on its existing fleet of five Embraer 175 series aircraft.
- On July 11, 2012, Dow Jones reported that Pratt & Whitney, a United Technologies Corp. company announced that it has signed a memorandum of understanding for an exclusive maintenance services agreement with Alba Star Airlines to provide engine overhaul services on the airline's fleet of CFM56-3 engines.
- On July 11, 2012, Dow Jones reported that & Whitney and JetBlue Airways signed a definitive agreement for PurePower PW1100G-JM engines to power its order of 40 firm A320neo family aircraft finalizing the MOU announced in late 2011.
- On July 11, 2012, Hamilton Sundstrand Corporation, a subsidiary of United Technologies Corporation, announced that it has awarded a multi-year Overhaul & Repair contract from the U.S. Army for BLACK HAWK helicopter T700 fuel controls, with initial delivery orders starting in 2012 and covering a period of performance through 2017.
- On July 10, 2012, Sikorsky Aerospace Services (SAS) announced the expansion of an existing contract that doubles the size of the in-country maintenance support team for the Colombian Army UH-60 BLACK HAWK fleet.
- On July 9, 2012, Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and the enforcement of federal antitrust laws announced that it is investigating potential wrongdoing at United Technologies Corporation.
- On July 9, 2012, Sundstrand Corporation, the system supplier to the Boeing 787 Dreamliner, has ramped up its operations and its supply chain to support Boeing's rate readiness needs for 787 production.
- On July 9, 2012, Hamilton Sundstrand Corporation, a subsidiary of United Technologies Corporation, signed a long-term agreement with Fokker Services to provide spare parts to support components repaired by Fokker workshops through 2016.
- On July 9, 2012, LifePort, Inc. announced that it has received a subcontract from L-3 Platform Integration in support of a 747-8 Head-of-State Completion Project. LifePort will equip the upper deck of the aircraft with customized cabinets, partitions and a lavatory.
- On July 9, 2012, United Technologies Corp.'s subsidiary Hamilton Sundstrand Corporation and Japan Airlines Co., Ltd. (JAL) agreed to extend their exclusive repair agreement on Airlines on Boeing 767/777 and MD90 fleets.
- On July 9, 2012, Sikorsky Aerospace Services (SAS) announced an exclusive sales and distribution agreement with Northrop Grumman Corporation's Italy-based subsidiary, Northrop Grumman Italia (NGI), to equip BLACK HAWK utility aircraft with its NAVEX-12 Air Navigation System.
- On July 6, 2012, Reuters reported that United Technologies Corp. is set to win EU approval for its $16.5 billion purchase of Goodrich Corporation after agreeing to sell assets in the United States and Britain.
- On July 2, 2012, EDAC Technologies announced that it has revised its facility relocation plan and has purchased a 293,000 square foot manufacturing facility located in Cheshire, Conn. from United Technologies Corporation.
- On June 18, 2012, Reuters reported that United Technologies Corp. is looking to sell power generation assets within its Pratt and Whitney subsidiary in a deal that could fetch around $1 billion, according to three people familiar with the matter.
- On June 13, 2012, United Technologies Corp. announced that the Board of Directors declared, effective July 5, an 11.5% increase in its third quarter dividend to $0.535 per common share.
- On June 13, 2012, United Technologies Corp. announced that it has successfully priced its offering of equity units. Net proceeds of the offering are expected to be used primarily to pay a portion of the cash consideration for the previously announced acquisition of Goodrich Corporation.
- On June 12, 2012, United Technologies Corp. announced an offering of $1.00 billion of equity units. Net proceeds of the offering are expected to be used primarily to pay a portion of the cash consideration for the previously announced acquisition of Goodrich Corporation.
- On May 25, 2012, United Technologies Corp. announced that it has successfully priced an offering of senior notes consisting of: $1.0 billion aggregate principal amount of 1.200% senior notes due 2015; $1.5 billion aggregate principal amount of 1.800% senior notes due 2017; $2.3 billion aggregate principal amount of 3.100% senior notes due 2022; $3.5 billion aggregate principal amount of 4.500% senior notes due 2042; $1.0 billion aggregate principal amount of floating rate senior notes due 2013; and $500 million aggregate principal amount of floating rate senior notes due 2015.
- On May 24, 2012, Reuters reported the pricing of a bond offering of almost $10 billion from United Technologies Corp. Up to $38 billion of orders were placed with underwriters on the deal, according to market sources.
- On May 22, 2012, United Technologies Corp. announced that for fiscal 2012, it remain confident on guidance and will deliver EPS of $5.30 to $5.50, sales will be $61 billion to $62 billion, including Goodrich.
- On May 22, 2012, Reuters reported that United Technologies Corp. is confident that its pending $16.5 billion takeover of aircraft components maker Goodrich Corp will close in July, despite an ongoing European Union antitrust review of the deal.
- On May 15, 2012, Reuters reported that private equity firms TPG Capital and Carlyle Group LP are separately considering bids for United Technologies Corp.'s industrial units that make pumps and compressors valued at $3.5 billion to $4 billion.
- On April 24, 2012, United Technologies Corp. announced that continued focus on cost reduction and strong execution will allow the Company to deliver earnings per share (EPS) in fiscal 2012 of $5.30 to $5.50, on sales of $61 billion to $62 billion, including Goodrich.
- On April 18, 2012, Otis Brazil, a unit of Otis Elevator Company and United Technologies Corp. announced a contract win to install 21 energy-efficient elevators and escalators at Rio de Janeiro's famous Maracana Stadium -- the site of the 2014 FIFA World Cup final championship match and the 2016 Summer Olympics' opening and closing ceremonies.
- On April 11, 2012, United Technologies Corp. announced that the Board of Directors declared a dividend of 0.48 per common share payable June 10 to shareowners of record at the close of business May 18. The ex-dividend date is May 16.
- On March 27, 2012, Otis Elevator Company Saudi Arabia Ltd., an affiliate of Otis Elevator Company, a unit of United Technologies Corp. announced that it has won six contracts to supply and install 263 elevators, including 10 double-deck elevators, and 90 escalators to different buildings in the King Abdullah Financial District in Riyadh, Saudi Arabia.
- On March 16, 2012, Reuters reported that United Technologies Corp. aims to sell three small units to raise about $3 billion in cash that the Company said would allow it to avoid issuing new common shares immediately to fund acquisition.
- On March 14, 2012, United Technologies Corp. announced that it has signed an agreement with Watsco, Inc. to form a joint venture named Carrier Enterprise Canada to distribute Carrier, Bryant, Payne heating, ventilation and air conditioning (HVAC) products and WWG/Totaline parts and supplies in Canada.
- On February 23, 2012, G4S plc announced that G4S Secure Solutions (UK) Limited has acquired Chubb Emergency Response from UTC Fire & Security, a unit of United Technologies Corp.
- On February 15, 2012, ICBC Financial Leasing Co. Ltd, a subsidiary of the Industrial and Commercial Bank of China Ltd. (ICBC), has selected International Aero Engines to provide V2500 engines to power its fleet of 15 new A320 series aircraft.
- On February 15, 2012, Sichuan Airlines has selected International Aero Engines to provide V2500 engines to power eight new A320 series aircraft. The order includes a long-term aftermarket services agreement.
- On February 15, 2012, TransAsia Airways has selected Pratt & Whitney PurePower PW1100G-JM engines to power its order of six firm and six option A321neo aircraft. The deal includes a 10-year PureSolution(SM) maintenance service agreement for 27 engines, including spare and option engines.
- On February 15, 2012, Go Airlines (GoAir), a provider of low fare services in the growing Indian aviation market, has selected Pratt & Whitney PurePower PW1100G-JM engines for its order of 72 firm A320neo aircraft.
- On February 15, 2012, Sikorsky Aerospace Services announced the signing of a Basic Ordering Agreement (BOA) with the Brunei Ministry of Defence as part of Sikorsky's recent overarching sales contract to provide 12 S-70i BLACK HAWK helicopters to the Royal Brunei Air Force (RBAF).
- On February 14, 2012, Sikorsky Aircraft, a subsidiary of United Technologies Corp. announced that it has received an order for one S-76D helicopter from Swiss-based Air Engiadina.
- On February 14, 2012, Pratt & Whitney announced that Korean Air selected Pratt & Whitney's PW4170 Advantage70 engine to power five new Airbus A330 aircraft. The agreement, valued at approximately $200 million, represents 10 firm PW4170 engines.
- On February 14, 2012, Pratt & Whitney announced that it has received a $19.2 million Material Management Program (MMP) contract with three, one-year options from the United States Air Force in support of F100-PW-220E engines powering the Royal Jordanian Air Force fleet of Lockheed Martin F-16 fighters.
- On February 13, 2012, Sikorsky Aircraft Corp. announced that Milestone Aviation Group, a global finance company that buys and leases helicopters to operators worldwide, has signed a contract to purchase three S-92 helicopters.
- On February 12, 2012, Pratt & Whitney Canada announced the signing of a new Guaranteed Maintenance Cost Plan agreement with DanCopter AS, a subsidiary of Blueway AS, for comprehensive maintenance support of its new PT6C-67C engines.
- On February 11, 2012, Reuters reported that United Technologies is reviewing the possibility of selling its flow and compressor businesses that could fetch a combined $3.5 billion.
- On February 6, 2012, United Technologies announced that the Board of Directors declared a dividend of $0.48 per common share payable March 10 to shareowners of record at the close of business February 17. The ex-dividend date is February 15.
- On January 25, 2012, United Technologies announced that it continue to expect sales of between $59 billion and $60 billion and cash flow from operations less capital expenditures to equal or exceed net income attributable to common shareowners for base business in fiscal 2012.
Boeing (BA), General Electric (GE), Honeywell International (HON), and Siemens (SI) are major competitors for United Technologies and the table below provides the key metrics for these companies and the industry.
The chart below compares the stock price changes as a percentage for the selected companies and S&P 500 index for the last one year period.
Competitors' Latest Development
- On July 20, 2012, General Electric Co announced it has signed a more than USD600 million, 22-year contractual services agreement (CSA) with Chevron Australia Pty LTD to maintain the compression trains, power generation and associated equipment that will be at the heart of the Chevron-operated Gorgon Project off the northwestern coast of Australia.
- On July 20, 2012, General Electric Co announced that it is confident in double-digit EPS growth expectations for fiscal 2012. The Company reported EPS of $1.37 in fiscal 2011.
- On July 20, 2012, General Electric Co announced that it will reorganize its Energy business into three standalone businesses effective in the fourth quarter of 2012. The Energy headquarters organizational layer will be phased out by the end of 2012.
- On July 20, 2012, Reuters reported that Siemens AG is set to offer around EUR1.3 billion ($1.6 billion) for Ansaldo Energia to extend its reach in the gas turbines market.
- On July 20, 2012, Boeing and Korean Air announced that they have finalized an order for two 777-300ERs (Extended Range) airplanes. The order is valued at $596 million at Boeing list prices.
- On July 19, 2012, DONG Energy A/S announced that it has signed a framework agreement with Siemens AG's Siemens Energy on the supply and servicing of a total of 300 offshore wind turbines of six megawatt each, giving a total capacity of 1,800 megawatt.
- On July 19, 2012, Reuters reported that Korean Air Lines has agreed to buy two The Boeing Company's B777-300ER aircraft with a list price of $558.4 million.
- On July 19, 2012, The Boeing Company and Ethiopian Airlines announced an order for one additional 777-200LR (Longer Range) Worldliner, adding to the airline's fleet of five 777-200LRs.
- On July 18, 2012, Honeywell International Inc announced that for fiscal 2012, it expects sales of $37.8-$38.4 billion, compared to prior guidance range of $38.0-$38.6 billion and EPS from continuing operations to be in the range of $4.40-$4.55, compared to prior guidance range of $4.35-$4.55. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $38.4 billion and EPS of $4.49 for fiscal 2012.
- On July 17, 2012, General Electric Co's GE Healthcare announced the final results from a phase 3 study of the investigational PET amyloid imaging agent. [18F]flutemetamol in terminally ill patients who had agreed to undergo postmortem brain autopsy.1 The data showed concordance (sensitivity and specificity) between [18F]flutemetamol PET images and beta amyloid brain histopathology.
- On July 17, 2012, Wi-LAN Inc. announced that it has acquired a global portfolio of more than 40 patents and applications from Siemens AG related to telecommunication network management and mobile multimedia.
- On July 16, 2012, General Electric Co's GE Aviation announced that they signed an agreement with The Boeing Company potentially worth up to $180 million to provide the mission control system for the U.S. Air Force's KC-46A tanker.
- On July 14, 2012, Reuters reported that General Electric Co Secured a medical equipment deal with two hospitals in Myanmar on July, 14 2012, becoming the first U.S. company to restart business in the long-isolated country since Washington eased sanctions that week.
- On July 12, 2012, Boeing announced an order by United Continental Holdings, Inc and its wholly owned subsidiary, United Air Lines, Inc., for 150 737 airplanes, including 100 of the new 737 MAX 9. United, the airline by traffic, is the latest carrier to choose the newest member of the 737 family, which eclipsed 10,000 orders overall.
- On July 11, 2012, Dow Jones reported that The Boeing Company announced at the Farnborough International Airshow a commitment by Avolon to purchase 10 737 MAX 8s and five 737 MAX 9s, as well as 10 Next-Generation 737-800s.
- On July 11, 2012, The Boeing Company and the Europe-based TUI Travel PLC announced that they have signed a five year agreement to provide 787 Dreamliner flight, maintenance and cabin safety training.
- On July 10, 2012, Dow Jones reported that General Electric Co plans to spend an additional $70 million to expand its advanced battery factory in upstate New York. The plant, located in Schenectady, N.Y., produces GE's Durathon battery products, which are half the size of conventional lead-acid batteries but last about 10 times longer.
- On July 10, 2012, Mitsubishi Heavy Industries, Ltd. announced that the judgment of the lawsuit, which the Company filed against General Electric, for patent infringement on wind turbine technology, on May 21, 2010.
- On July 9, 2012, Duro Felguera SA announced its participation in collaboration with General Electric Co and a local entity Fainser in a turn-key project to build a gas-turbine electric power plant in Vuelta de Obligado, Argentina.
- On July 9, 2012, The Boeing Company and Air Lease Corporation announced a firm order for 60 737 MAX 8 and 15 737 MAX 9 airplanes, with reconfirmation rights for 25 additional 737 MAXs.
- On July 5, 2012, Areva SA announced that the International Court of Arbitration of the International Chamber of Commerce (Pending:ICC), called on in order to resolve the dispute between the Areva-Siemens consortium and its customer, the Finnish operator TVO, as part of the construction of the EPR reactor of the Olkiluoto 3 (OL3) nuclear power plant in Finland, has just handed down a partial judgment requiring TVO to release EUR 100 million owed to the Areva-Siemens Consortium, and withheld in contravention of contractual provisions.
- On July 5, 2012, Dow Jones reported that Siemens AG could be preparing to make an offer for Ansaldo Energia, a unit of Finmeccanica SpA, in the coming days, according to Italian business daily Il Sole 24 Ore. Siemens, which has previously made an expression of interest for the energy services unit, would be working with Credit Suisse Group AG to formulate an offer worth nearly EUR1.3 billion ($1.63 billion).
- On July 5, 2012, Reuters reported that Virgin Australia Holdings Ltd. said it has ordered 23 The Boeing Company 737 MAX 8 aircraft in a deal worth USD2.19 billion at list prices.
- On July 4, 2012, Dow Jones reported that General Electric Co is suspending construction of a thin-film solar panel factory in Colorado, Bloomberg News reported. Danielle Merfeld, general manager of solar technologies, said in an interview that work would stop for at least 18 months.
- On July 3, 2012, Dow Jones reported that State-run Indian telecom operator Bharat Sanchar Nigam Ltd. (BSNL) has given network-equipment contracts to China's ZTE Corp and Alcatel Lucent SA. While ZTE was the lowest bidder, Alcatel-Lucent was among four vendors shortlisted by BSNL.
- On July 3, 2012, Reuters reported that EverBank Financial Corp said it would buy General Electric Capital's Business Property Lending Inc division for $2.51 billion to boost its ability to lend to small and mid-size companies, driving up its shares more than 4%. The latest deal includes about $2.44 billion of performing commercial loans, origination and servicing platforms, and servicing rights on $3.1 billion of loans securitized by GE Capital.
- On July 2, 2012, General Electric Co And OJSC Rosneft announced that it has signed a memorandum of understanding (MOU) that lays the foundation for the two companies to jointly evaluate and develop commercial opportunities in oil and gas exploration and production in the Russian Federation.
- On July 2, 2012, General Electric Co announced that Swedish energy developer Triventus Wind Power AB will use GE's wind turbine technology to power a new 27.5-megawatt (MW) wind farm project being built near Falkenberg on Sweden's west coast.
- On June 29, 2012, The Economic Times reported that Nokia Siemens Networks has bagged nearly INR200 crore (INR2 billion) of contracts to supply network gear to the Railways.
- On June 26, 2012, ICO Global Communications (Operations) Ltd. (ICO), a subsidiary of Pendrell Corporation, announced that it has withdrawn its petition for review to the California Supreme Court in connection with its litigation against The Boeing Company and certain of its subsidiaries.
- On June 26, 2012, Servicesource International Inc announced that General Electric Co's GE Healthcare has expanded its partnership with ServiceSource in Asia-Pacific to drive renewal of recurring service contracts for both small and large scale medical equipment.
- On June 26, 2012, The Boeing Company announced an agreement to collaborate on the KC-390 aircraft program. Under this agreement, Boeing and Embraer will share some specific technical knowledge and evaluate markets where they may join their sales efforts for medium-lift military transport opportunities.
- On June 21, 2012, NK Rosneft' OAO (Rosneft) announced that on June 21, 2012 Mr. I. Sechin, Rosneft President, and Mr. John Krenicki, General Electric Co Vice Chairman President and CEO of GE Energy, and Mr. Cristiano Tortelli, GE Energy CEO for CEE, Russia and CIS, signed a Memorandum of Understanding and a Cooperation Agreement.
- On June 20, 2012, Dow Jones reported that Boeing will collaborate on air traffic management (ATM) research with LOT Polish Airlines, Polish government agencies and academic institutions to make commercial aviation in Poland more efficient and to support airline profitability.
- On June 19, 2012, Dow Jones reported that four telecommunication gear makers short-listed by Bharat Sanchar Nigam Ltd. (BSNL) for an equipment supply contract worth more than $1 billion have pulled out saying the final bid price is very low and isn't viable for them.
- On June 16, 2012, Reuters reported that EU regulators will decide next week whether to accept concessions offered by Germany's Siemens AG and France's Areva SA to end an investigation into their former nuclear power joint venture.
- On June 16, 2012, Reuters reported that General Electric Co aims to buy a medium-sized business in Germany in the next six months to expand its technological footprint, German daily Sueddeutsche Zeitung reported, citing a manager at the U.S. conglomerate.
- On June 12, 2012, General Electric Co announced that it had secured an order for GBP3.25 million from General Dynamics UK for subsystems required for the Demonstration Phase for the Scout Specialist Vehicle family of platforms for the British Army for which General Dynamics UK is currently on contract.
- On June 8, 2012, General Electric Co announced that it declared a $0.17 per share dividend on the outstanding common stock of the Company payable on July 25, 2012, with a record date of June 25, 2012 and ex-dividend date of June 21, 2012.
- On June 7, 2012, Nokia Oyj announced that Nokia Oyj and Siemens AG's joint venture Nokia Siemens has been chosen by the Saudi Arabian operator Zain KSA to supply infrastructure and services to the company's 4G network in Saudi Arabian city, Jeddah.
- On June 6, 2012, General Electric Co's GE Oil & Gas announced that it will supply advanced turbocompression technology for the PETRONAS LNG Train 9 project, which will add 3.6 million tons per annum (mtpa) to the existing 25.7 mtpa production capacity of the PETRONAS LNG Complex in Bintulu, Sarawak, Malaysia.
- On June 5, 2012, General Electric Co's GE Healthcare announced the acquisition of XPRO, a Brazilian Interventional X-ray equipment manufacturer company with over 15 years of experience and with more than 120 systems installed at private customer sites.
- On June 4, 2012, Honeywell International Inc announced that it has acquired INNCOM, a Connecticut-based, privately held manufacturer of advanced software-based energy management solutions and in-room controls for lodging, healthcare and educational institutions.
- On June 2, 2012, General Electric Co's GE Healthcare signed an agreement with Affibody AB to collaborate on the development of a Her2-targeted PET imaging agent, which is scheduled to begin clinical trials later this year.
- On June 2, 2012, General Electric Co's GE Healthcare announced results from the Tamoxifen and Exemestane Adjuvant Multinational (TEAM) Trial at the 2012 Annual Meeting of the American Society of Clinical Oncology.
- On June 1, 2012, Dow Jones reported that DragonWave Inc has completed the acquisition of Nokia Oyj and Siemens AG's joint venture Nokia Siemens Networks' microwave transport business including its associated operational support system (OSS) and related support functions.
- On May 31, 2012, General Electric Co's Clarient Diagnostic Services, Inc., a GE Healthcare company, and molecular diagnostics company Insight Genetics, Inc., announced a worldwide licensing agreement for intellectual property from Insight Genetics, granting Clarient rights to develop a genetic test covering the ALK (anaplastic lymphoma kinase) biomarker, a promising target for several classes of cancer drugs.
- On May 22, 2012, General Electric Co's GE Aviation has been selected by Emirates airline to provide GE's airline-based flow management system for a 16-month validation at Dubai International Airport.
- On May 16, 2012, General Electric Co announced that it is pursuing acquisitions of two underground mining equipment manufacturers in support of the global expansion of its mining business.
- On May 10, 2012, GE Healthcare, the healthcare business of General Electric Co announced that it has completed the acquisition of Xcellerex, Inc., a supplier of manufacturing technologies for the fast-growing biopharmaceutical industry.
- On May 10, 2012, The Boeing Company announced that it has completed the acquisition of Inmedius, a provider of software applications and services for managing and sharing information and learning content.
- On May 9, 2012, Biosense Webster Inc announced the execution of strategic collaboration agreements with two global imaging companies, General Electric Co's GE Healthcare and Siemens AG's Siemens Healthcare.
- On May 7, 2012, General Electric Co And China Xd Electric Co announced the formation of a new partnership to deliver a full-line of electric transmission and distribution (T&D) and grid automation solutions to customers around the world.
- On April 30, 2012, General Electric Co's GE Oil & Gas announced that it will supply ATP Oil & Gas (UK) Limited with subsea production equipment, ancillary systems and related services for ATP`s signature Cheviot oilfield project in the North Sea, under the terms of an $80 million contract.
- On April 30, 2012, The Boeing Company announced that its Board of Directors declared a regular quarterly dividend of $0.44 per share. The dividend is payable June 1, 2012, to shareholders of record as of May 11, 2012.
- On April 26, 2012, Honeywell International Inc's UOP LLC announced that it has been selected to provide key technology to produce propylene in China. Zhangjiagang Yangzi River Petrochemical Co. Ltd will use Honeywell's UOP C3 Oleflex process technology to convert propane to propylene, which is used in the production of materials such as films and packaging.
- On April 26, 2012, The Boeing Company announced that it has signed an agreement to acquire Inmedius, a provider of software applications and services for managing and sharing information and learning content.
- On April 25, 2012, General Electric Co announced that for fiscal 2012 and fiscal 2013, it expects continued double digit earnings growth.
- On April 25, 2012, Honeywell International Inc's UOP announced that its UOP C3 and C4 Oleflex processes have been selected by China's Shandong Chambroad Petrochemicals Co. to produce key petrochemicals.
- On April 25, 2012, The Boeing Company announced that for fiscal 2012, it expects revenue to be in the range of $78-$80 billion and earnings per share in the range of $4.15-$4.35. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $79 billion for fiscal 2012.
The stock has a market capitalization of $66.78B and is currently trading at $73.28 with a 52 week range of $66.87 - $87.50. The stock's year-to-date performance has been 1.47%. It is currently trading below 20, 50 and 200 SMA.
Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.