Sep. 23, 2014, 11:53 AM
Aug. 21, 2014, 8:18 AM| 2 Comments
Aug. 13, 2014, 11:38 AM
- Versar (VSR +15%) shares soar after the project management company says it was awarded a $98M firm fixed price design/bid/build task order for the repair of a runway at Dover Air Force Base in Delaware.
- VSR says the task order was awarded under its S/R&M acquisition task order contract IDIQ with the Air Force Civil Engineer Center, held with its joint venture partner, Johnson Controls (NYSE:JCI).
Jul. 23, 2014, 10:42 AM
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May. 21, 2014, 1:53 PM
May. 19, 2014, 4:06 AM
- Johnson Controls (JCI) intends to spin off its automotive-interiors operations into a joint venture with China's Yanfeng Automotive Trim Systems, which will own 70% of the business and the U.S. company the rest.
- The JV firm will be the largest company in the world in its field with expected annual revenues of $7.5B and 15% of the market.
- The non-cash deal comes as Johnson Controls refocuses on its higher-margin non-auto interests, although the company will keep its auto-seating operations.
Apr. 23, 2014, 9:02 AM
- Johnson Controls (JCI) net profit +59% to $261M
- Sales breakdown: automotive +11% to $5.62B, building efficiency -5.2% to $3.3B, power solutions flat at $1.6B.
- Johnson Controls updates its guidance to account for the sale of its Automotive Electronics unit. Expects FY EPS from continuing ops of $3.10-3.18 vs $3.15-3.30 prior and consensus of $3.24. Forecasts Q3 EPS of $0.81-0.84 vs consensus of $0.86.
- Johnson Controls reiterates that it expects FY free cash flow of $1.6B and to improve margins in all three of its businesses.
- Shares are -0.9% premarket. (PR)
Apr. 23, 2014, 7:06 AM| Comment!
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Apr. 16, 2014, 8:23 AM
- Johnson Controls (JCI) has agreed to acquire Air Distribution Technologies from Canada Pension Plan Investment Board for $1.6B.
- Johnson Controls says the deal complements its existing heating, ventilation and air conditioning offerings. It also reflects the company's "commitment to invest in the buildings business as a growth platform."
- Shares are +1.1% premarket. (PR)
Apr. 4, 2014, 9:40 AM
- Norway's government proposes to increase the environmental technology portfolio of its sovereign wealth fund to 30B-50B kroner ($5B-$8.33B), from a previous target of 20B-30B kroner.
- At the end of 2013, the fund's portfolio of environmentally friendly investments counted 166 companies, including Pentair (PNR), Johnson Controls (JCI), Danaher (DHR) and Enel Green Power (ELPSY), valued at 31.4B kroner.
- About 6% of the fund's general portfolio currently consists of companies with more than 20% of revenue from businesses providing green technologies, the finance ministry says.
- ETFs: ENOR, NORW
Feb. 20, 2014, 7:29 AM| 1 Comment
JCI vs. ETF Alternatives
Johnson Controls Inc creates products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles.
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