United Technologies (UTX) to Reduce Pension Liabilities by Approximately $1.77B
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 4/25/2024
- Wall Street stocks fall as weak GDP growth spreads rate-cut gloom
- Q1 US GDP shows surprise slowing and uncomfortable inflation
- Alphabet (GOOGL) soars 16% on Q1 results beat, first-ever dividend
- Meta shares dip on softer Q2 revenue guidance, elevated AI spending plans
- Oil settles higher as weak U.S. economic growth offset by supply concerns
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- Hasbro (HAS) brand strength sees earnings top expectations
- Meta Platforms (META) Tops Q1 EPS by 39c, Offers Guidance
- Seagate Technology (STX) Enters $600M Asset Purchase Agreement with Avago
- Rubrik (RBRK) Prices Upsized 23.5M Share IPO at $32/sh
- After-hours movers: Alphabet, Microsoft, Snap, Intel, and more
- Midday movers: Meta, IBM, Caterpillar fall; Chipotle rises
- After-hours movers: Meta, Ford, IBM, ServiceNow and more
- Midday movers: Tesla, Boeing rise; Uber, Old Dominion Freight fall
- After-hours movers: Tesla, Texas Instruments, Seagate, Visa and more
United Technologies To Reduce Pension Liabilities
October 6, 2016 5:01 PM EDTFARMINGTON, Conn., Oct. 6, 2016 /PRNewswire/ --Â United Technologies Corp. (NYSE: UTX) today announced two related actions that are expected to reduce the overall size of its pension obligations by approximately $1.77 billion.
First, United Technologies will transfer approximately $775 million of its outstanding pension benefit obligations under the UTC Employee Retirement Plan and the UTC Represented Employee Retirement Plan to The Prudential Insurance Company of America (NYSE: PRU). This transaction is expected to close on October 12 with the purchase of a group annuity contract from Prudential. Prudential was... More
