AnMaster.com

Alexkid

United Technologies 2Q profit up 19 percent
STEPHEN SINGER
(The Associated Press)




06:38:44AM (DST) Thursday,July 21,2011.

HARTFORD, Connecticut (AP) — United Technologies Corp. posted a 19 percent jump in its second-quarter profit on Wednesday, citing strong orders for its heating and cooling building systems and exports that got a lift from a weaker dollar.

The results from the Hartford company that owns Carrier heating and cooling, Otis elevator, jet engine manufacturer Pratt & Whitney and other businesses beat Wall Street estimates.

The company also raised its outlook for the full year.

Chief Executive Louis Chenevert said in a statement that he was pleased that orders are strong at the commercial construction segments, which points to future strength because the work is planned years in advance.

"More encouragingly, order rates remain strong and in line with expectations across most of the segments including our longer cycle commercial construction-related businesses," he said.

But its shares dropped $2.39, or 2.7 percent, to $86.43 in midday trading.

Matt Collins, an analyst at Edward Jones, said the lower share price reflects the loss by Pratt & Whitney's next-generation geared turbofan engine in the most recent round of announced airline orders.

American Airlines said Wednesday it will buy 200 planes from Boeing's 737 family of single-aisle planes, with deliveries starting in 2013. Half are expected to be equipped with updated, more fuel-efficient engines.


--------------------------------------------------------------------
* The summers are hot and winters are cold.
The elevator business is growing with new skyscrapers.
Need to say more about the airplane industry ? *

__________________
Yeah...Do That.