RBC Capital Cuts Price Target to $114 Following United Technologies (UTX) 2Q EPS Beat

Cowen Upgrades United Technologies (UTX) to Outperform; Sees 2016 Rebound

Cowen upgraded United Technologies (NYSE: UTX) from Neutral to Outperform with a price target of $119.00 (from $125.00), citing a 2016 rebound.

Analyst Cai von Rumohr commented, "We're upgrading UTX to Outperform with a PT of $119 (17x P/E on lowered 16E EPS) following its 9% selloff... More

Deutsche Bank Downgrades United Technologies (UTX) to Hold

Deutsche Bank downgraded United Technologies (NYSE: UTX) from Buy to Hold with a price target of $112.00 (from $128.00). The change follows Q2 results and disappointing guidance.

"While UTX's 2Q results were generally in line with our thinking, the main focus on the day was the... More

Market Wrap: Apple Hit on Light Q3 iPhone, Watch Numbers; Tesla Dips Following Downgrade; LifeLock Slammed on FTC Allegations

Market wrap for July 21st

End of the Day: S&P 500 down 9.1 to 2,119.21; Dow Jones down 181.1 to 17,919.29; Nasdaq down 10.7 to 5,208.12

Market Brief: Markets saw downside Tuesday following a moderate run higher the last few sessions. The Dow Jones Industrial Average was weighed down by United Technologies and IBM following the two companies' quarterly reports.

Apple was hit in after-hours trading amid solid Q3 numbers as iPhone and Apple Watch sales failed to live up to muster.

Tesla saw a pullback today as... More

United Tech CEO says ready to 'turn up the heat' on acquisitions

By Lewis Krauskopf

(Reuters) - United Technologies Corp (NYSE: UTX) is ready to "turn up the heat on M&A" now that the U.S. conglomerate has agreed to sell its Sikorsky helicopter business, Chief Executive Greg Hayes said in an... More

Pre-Open Stock Movers 07/21: (SANM) (HOG) (PNK) Higher; (UNFI) (IBM) (UTX) (TSLA) Lower (more...)

CytRx Corporation (Nasdaq: CYTR) 24.5% LOWER; announced the pricing of its previously announced underwritten public offering. CytRx is offering 9,100,000 shares of common stock at a public offering price of $2.75 per share for gross proceeds of approximately $25.0 million, prior to deducting underwriting discounts and... More

Wall Street lower after weak results from IBM, United Tech

(Updated 11:43am) By Tanya Agrawal

(Reuters) - Wall Street was lower in late morning trading on Tuesday as weak revenue at IBM and United Technologies weighed on the Dow and the S&P 500 and investors awaited results from tech giants including Apple and Microsoft.

IBM's shares fell as much as 5.5 percent to $163.69, a day after the company's revenue fell for the 13th consecutive quarter.

United Technologies fell as much as 7.9 percent to $101.78 and was the biggest loser on the Dow, after the company cut its full-year profit outlook.

"We remain cautious regarding earnings... More

United Technologies (UTX) Tops Q2 EPS by 2c; Cuts FY15 Outlook

United Technologies (NYSE: UTX) reported Q2 EPS of $1.73, $0.02 better than the analyst estimate of $1.71. Revenue for the quarter came in at $16.3 billion versus the consensus estimate of $16.52 billion.

As announced yesterday, UTC has reached an agreement to sell Sikorsky to Lockheed Martin for $9... More

With Sikorsky sale done, United Technologies eyes acquisitions

By Lewis Krauskopf

(Reuters) - Now that United Technologies Corp (NYSE: UTX) Chief Executive Greg Hayes has closed a deal to sell the conglomerate's Sikorsky helicopter unit, he may become an acquirer in his own right.

United Tech shares slipped 0.7 percent on Monday after news of the $9 billion sale to Lockheed Martin Inc became official.

Even though analysts applauded the price, investors may have already incorporated the benefits from splitting off the lower-margin business, a move United Tech had been signaling for months.

Also, United Tech, which reports earnings on... More

Trading Radar for 7/21: Apple (AAPL), GoPro (GPRO), SAP AG (SAP), Travelers (TRV), Chipotle (CMG),

The Trading Radar highlights key earnings and economic announcements for the next trading session:

Before Markets Open:
Earnings:

Allegheny Technologies (NYSE: ATI) - consensus EPS $0.04
Asbury Automotive Group (NYSE: ABG) - consensus EPS $1.43
Astec Industries (Nasdaq: ASTE) - consensus EPS $0.69
Badger Meter (NYSE: BMI) - consensus EPS $0.73
Baker Hughes (NYSE: BHI) - consensus loss $0.09
Bank of New York (NYSE:... More

United Technologies (UTX) to Sell Sikorsky Aircraft Unit in $9B Deal; Approves 75M Common Stock Buyback

United Technologies (NYSE: UTX) 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... More

Lockheed Martin (LMT) to Acquire Sikorsky in $9B Deal (UTX)

Lockheed Martin (NYSE: LMT) has entered into a definitive agreement to acquire Sikorsky Aircraft, a world leader in military and commercial rotary-wing aircraft, for $9.0 billion. The price is effectively reduced to approximately $7.1 billion, after taking into account tax benefits resulting from the transaction.

"Sikorsky is a natural fit for Lockheed Martin and complements our broad portfolio of world-class aerospace and defense products and technologies," said Marillyn Hewson, Lockheed Martin chairman, president and CEO. "I'm confident this acquisition will help us extend our core business into the growing areas of helicopter production and... More

Exclusive: Lockheed to buy United Tech's Sikorsky for over $8 billion

By Andrea Shalal and Lewis Krauskopf

WASHINGTON (Reuters) - Lockheed Martin Corp has agreed to buy United Technologies Corp's Sikorsky Aircraft for over $8 billion, two sources said on Sunday, cementing a deal that would confirm Lockheed's dominance in weapons making and giving the Black Hawk helicopter to the maker of the F-35 fighter jet.

The deal will add further heft to Lockheed, which already has annual revenues of around $45 billion and dwarves its nearest competitors, the defense business of Boeing Co and Northrop Grumman Corp .

It will make Lockheed less reliant on the $391... More