Pitching UTC deal, Malloy breaks down the job numbers

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On the heels of Gov. Dannel Malloy’s recent announcement of a proposal to grant United Technologies $400 million in tax breaks in return for the aerospace company’s commitment to spend up to $5 billion within the next five years, his office has issued a press release breaking down the impact of the deal by municipality. […] [Read More]

Thomson Reuters taps UTC, GE and Xerox as top global innovators

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Three major corporations anchored in Connecticut have been ranked as drivers of international innovation as Thomson Reuters announced its 2013 Top 100 Global Innovators program this week. GE, Xerox and United Technologies were named on the third annual list, compiled and evaluated by Reuters’ IP & Science business. The 100 companies chosen in this year’s […] [Read More]

Sikorsky sales down 7 percent as military cuts weigh on profits

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Stratford-based Sikorsky Aircraft actually delivered more helicopters in the first quarter of this year than a year ago, but sales revenue was down 7 percent to $1.24 billion, the aircraft maker’s parent corporation reported Tuesday. United Technologies, the parent of Sikorsky, Pratt & Whitney and several of the most recognized industrial and aerospace brands in […] [Read More]

Black Hawk provides Sikorsky cover against sequestration

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With concerns over sequestration hanging over his Sikorsky Aircraft, Pratt & Whitney and UTC Aerospace systems subsidiaries, Louis Chenevert, chief executive officer and chairman of United Technologies, said the company is prepared for a 10 cent hit to earnings per share in a worst case scenario. Chenevert, speaking at the Barclays Conference, was in step […] [Read More]

UTC to buy back 60 million shares

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United Technologies board authorized a 60 million share repurchase program and declared a dividend of 53.5 cents per common share payable March 10 to shareowners of record at the close of business Feb. 15. The ex-dividend date is Feb. 13. UTC has paid cash dividends on its common stock every year since 1936. The Board’s […] [Read More]

Sikorsky shows improvement in fourth quarter

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Sales increased three percent and Stratford-based Sikorsky Aircraft delivered 18 more aircraft in the fourth quarter of 2012 compared to the same period a year ago. The helicopter maker’s parent company, United Technologies said during a conference call with analysts that Sikorsky had sales of $2.17 billion in the quarter, but operating profit was down […] [Read More]

Joint Chiefs call on Congress to call off sequestration

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The Joint Chiefs for Staff for the U.S. Military have sent a letter to Congress warning that if they do not stop sequestration, the United States will be left with a hollow force. The letter, reported on by Politico.com’s Morning Defense blog highlights the concerns of the nation’s top military brass. Defense contractors are bracing […] [Read More]

Sikorsky all alone in hunt for Air Force’s 112 helicopter order

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Several outlets, including Aviation Week and Reuters are reporting EADS, Northrop Grumman and Boeing have all decided to drop out of the U.S. Air Force’s competition for a new combat search and rescue helicopter, leaving Sikorsky as the sole bidder. Calls to the companies were not immediately returned Wednesday. The Air Force released its request […] [Read More]

UTC and Florida’s WellCare boost US Atttorney’s Connecticut revenue

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The U.S. Attorney for the District of Connecticut released its annual revenue collections announcing the Connecticut office took in about $60 million for the fiscal year ended Sept. 30, 2012. The report says the office collected $24 million from a settlement of four whistleblower lawsuits alleging Florida-based WellCare Health Plans violated the False Claims Act […] [Read More]

UTC holds to $58 billion sales forecast

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Hartford-based United Technologies Corp. said Tuesday company officials met with investors and affirmed UTC’s outlook for 2012. The company anticipates earnings per share of $5.25 to $5.35 from continuing operations on sales of approximately $58 billion. Executives also expect strong cash flow. UTC was off 24 cents to $78.44 in morning trading. [Read More]
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