RBC Capital Cuts Price Target to $114 Following United Technologies (UTX) 2Q EPS Beat
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Santa Barbara Unified School District Commits to Proposition 39 Energy Improvements with NORESCO
July 21, 2015 11:02 AM EDTSANTA BARBARA, Calif., July 21, 2015 /PRNewswire/ --Â Through its work with NORESCO, a national leader in energy efficiency and energy infrastructure solutions, the Santa Barbara Unified School District (SBUSD) has received state approval of its five-year energy expenditure plan and Proposition 39 funding to upgrade building systems at 13 schools. NORESCO will serve as the owner's representative for SBUSD to deliver $2.7 million in improvements through the multi-year project. NORESCO specializes in the development, design, construction, financing and operation of energy- and environmental-efficiency projects and is a part... More
UTC Reports Second Quarter 2015 Results; Revises 2015 EPS Expectations
July 21, 2015 7:01 AM EDTHARTFORD, Conn., July 21, 2015 /PRNewswire/ -- United Technologies Corp. (NYSE: UTX) today reported second quarter earnings per share of $1.73 and net income attributable to common shareowners of $1.5 billion, down 6 percent and 8 percent respectively versus the prior year. Â Results for the current quarter include unfavorable one-time items and restructuring charges of $0.08 per share. Â Net favorable one-time items offset restructuring costs in the second quarter of last year. Â Excluding these items in both quarters, earnings per share of $1.81 decreased 2 percent year over year. Â Foreign currency had an unfavorable impact of... More
United Technologies Announces Agreement To Sell Sikorsky Aircraft
July 20, 2015 7:32 AM EDTHARTFORD, Conn., July 20, 2015 /PRNewswire/ -- United Technologies Corp. (NYSE: UTX) today announced that it has reached an agreement to sell its Sikorsky Aircraft business to Lockheed Martin Corp. (NYSE: LMT) for $9 billion in cash. The transaction, which is subject to regulatory approvals and customary closing conditions and adjustments, is projected to close by year-end or in the first quarter of 2016. Proceeds from the sale are expected to be used to fund additional share repurchase to offset the earnings impact related to the sale.
"We... More
