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United Technologies Corporation (UTX)

  • Oct. 1, 2013, 9:05 AM
    • Pratt & Whitney (UTX) wins a contract to supply weapons systems spare parts to the Army, Navy, Air Force and Marine Corps.
    • The deal is worth as much as $2.5B and runs through the end of September in 2018.
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  • Sep. 20, 2013, 1:19 PM
    • Tepid FY14 guidance from Rockwell Collins (COL -6.7%) may be weighing on aerospace and defense names Friday.
    • COL chief Kelly Ortberg's comment that the "sequestration is here to stay" likely didn't help matters.
    • Across the sector: RTN -2.3%, LMT -1.4%, GD -1.5%, BA -1.4%, UTX -1.4%
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  • Sep. 19, 2013, 3:38 PM
    • Pratt & Whiney (UTX +0.8%) and Rolls-Royce (RYCEY.PK +0.3%) unveiled plans for the joint venture two years ago, but cite the regulatory environment as reason for abandoning it.
    • "Pratt & Whitney remains fully committed to this important market segment and will continue independently to invest in and develop applications of its geared turbofan engine to power the next generation of mid-sized aircraft."
    • The move comes at a particularly competitive time for the industry and could be seen as a win for GE which is looking to gain market share.
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  • Sep. 18, 2013, 4:56 AM
    • Lockheed Martin (LMT), BAE Systems (BAESF.PK), Northrop Grumman (NOC) and engine builder Pratt & Whitney (UTX) have agreed to huge cuts in the average cost of the F35 Joint Strike Fighter jet by 2019.
    • The head of the program, Lt. Gen. Chris Bogdan, is confident that despite concerns about the plane's software and defective parts, it is on track to enter service in 2015.
    • As expected, Holland said yesterday that it will buy 37 F35s and it provided a small indication that Belgium could evaluate the planes as well.
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  • Sep. 16, 2013, 1:28 PM
    • United Technologies' (UTX +1.2%) Pratt & Whitney unit is engaged in a "war on costs" and as part of the battle, the company plans to cut the cost of the F135 engines that power Lockheed Martin's (LMT +1%) F-35 by "at least 2.5%," Reuters says.
    • The F-35 has been besieged by cost concerns for quite some time. (More here)
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  • Sep. 9, 2013, 3:48 PM
    • Textron (TXT +2.8%) is set to team with Lockheed Martin (LMT +0.3%) on the Bell V-280 Valor helicopter program.
    • The V-280 Valor tiltrotor will utilize LMT's equipment and weapons.
    • The two companies are set to bid for contracts from the Army's Joint Multi-Role Technology Demonstrator program, with awards expected this month. (PR)
    • TXT/ LMT face competition from a team comprised of United Technologies' (UTX +1.2%) Sikorsky Aircraft and Boeing (BA +1.1%).
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  • Sep. 5, 2013, 3:34 PM
    • United Technologies (UTX +0.3%) says it's reached an accord with China's Changhe Aircraft Industries to provide S-76D commercial helicopter cabins for UTX's Sikorsky unit.
    • The agreement was signed during the China Helicopter Exposition.
    • No financial details were given.
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  • Sep. 4, 2013, 12:10 PM
    • United Technologies (UTX +0.6%) subsidiary UTC Aerospace Systems lands a major contract win with French company HeliDax SAS to provide aftermarket service for its fleet of helicopters – the largest EC120 worldwide fleet in operation today.
    • The company's Actuation Systems unit will provide flight controls and hydraulic operational support based on flying hours including consignment stock at the HeliDax SAS facility to aid daily operations.
    • The French Ministry of Defense awarded a 22-year contract in January 2008 to HeliDax SAS for training military pilots.
    • HeliDax has to provide a maximum of 22,000 flying hours per year on their fleet of 36 EC120 helicopters.
    • Training was previously performed by the French army with Gazelles.
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  • Sep. 3, 2013, 7:31 PM
    • United Technologies (UTX) names Paul R. Adams, currently chief operating officer of Pratt & Whitney, as president of Pratt & Whitney on January 1, 2014.
    • He replaces David P. Hess, who is retiring after 38 years with the company.
    • Adams will report to UTC Propulsion & Aerospace Systems President & Chief Executive Officer Alain M. Bellemare.
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  • Aug. 26, 2013, 2:43 PM
    • United Technologies (UTX +0.1%) subsidiary Pratt & Whitney has reportedly reached a deal worth more than $1B with the Pentagon to build 39 engines for a sixth batch of F-35 Joint Strike Fighters.
    • The Pentagon agreed to buy the jets, excluding the engines, from Lockheed Martin (LMT -0.1%) in July. It buys the engines separately from Pratt & Whitney, which is the sole producer of engines for the radar-evading warplane.
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  • Aug. 26, 2013, 11:11 AM
    • CHC has suspended flights in EADS' (EADSF.PK +1.7%) Super Puma helicopter family following a crash that killed four people.
    • WSJ says oil and gas producers operating in the North Sea are now facing tight capacity as four Super Puma models have been temporarily grounded by "the region's three main helicopter operators."
    • The cause of the crash is under investigation and "experts" from EADS' Eurocopter group are reportedly working closely with authorities.
    • In the mean time, operators must now figure out how to transport staff to offshore operations.
    • During a grounding of the EC225 (another model in the Super Puma family), operators relied heavily on Sikorsky S-92s (UTX).
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  • Aug. 22, 2013, 8:36 AM
    • Boeing (BA) has chosen United Tech (UTX) unit UTC Aerospace Systems to manufacture landing gear for the new Boeing 737 MAX, for which there are over 1,400 orders.
    • UTC will provide the nose and main landing gear, as well as the main gear side struts. The company also supplies landing equipment for the next generation 737, 747, 767 and the 777. (PR)
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  • Aug. 16, 2013, 5:29 PM
    • A unit of United Technologies (UTX) has acknowledged it's the supplier responsible for assembly errors on fire-extinguishing systems used for engines on Boeing (BA) 787 Dreamliners.
    • Improperly assembled fire-extinguisher bottles were found on three All Nippon 787s in Japan on Wednesday, spurring a round of inspections by operators.
    • The parts were manufactured at UTX's Kidde Aerospace unit.
    • The company notes the "error has been corrected and it's working with BA and the airlines involved to complete all necessary inspections, should be completed over the next few days.
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  • Jul. 24, 2013, 2:27 PM
    This quarter "marks the first time in quite a number of periods that [they have] delivered relatively clean results," Jefferies' Howard Rubel says, referring to United Technologies' (UTX -0.6%) Q2 report. The analyst hikes his FY13 EPS estimate to $6.15 from $6.10 and raises the price target on the shares from $105 to $120 representing a 14% upside from Tuesday's close.
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  • Jul. 23, 2013, 8:28 AM
    More on United Technologies' (UTX) Q2: Revenue growth is largely the result of acquisitions as organic sales come in flat for the quarter. Otis sees new equipment orders in China grow 39% and 23% overall. Pratt & Whitney logs 65% growth in large commercial engine spares orders (organic growth rises 15%). The company says it will return to organic growth in H2 as end-markets recover. UTX will invest $450M in restructuring in FY13. Full year outlook: The company raises the lower end of EPS guidance and now sees $6-6.15/ share on revenue of between $64-65B. (PR)
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  • Jul. 23, 2013, 7:01 AM
    United Technologies (UTX): Q2 EPS of $1.70. Revenue of $16.0B (+16% Y/Y) misses by $0.41B. (PR)
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Company Description
United Technologies Corporation provides high technology products and services to the building systems and aerospace industries. Its business segments are Otis, UTC Climate, Controls & Security, Pratt & Whitney, UTC Aerospace Systems and Sikorsky.
Country: United States