Market News

Southwest Airlines (LUV)

Southwest Airlines Co (NYSE:LUV) said it was open to acquisitions but added that this strategy would come secondary to growing the airline organically, said CFO Laura Wright, according to Reuters. "No question, if the right opportunity presented itself with all the right facts, we would certainly be interested," Wright said on Wednesday. But Wright quickly added that Southwest, the second-largest airline by market value, has only made acquisitions three times in its nearly 40-year history. "From where we sit, we don't see consolidation as something that's necessary for us," Wright said.
The U.S. industry has lost some $11 billion in 2009 alone, according to the International Air Transport Association. But Wright and other airline executives have said in recent months that travel demand has strengthened. Continued "capacity discipline" as well as economic recovery could pave the way for U.S. airlines to improve the profitability, or yields, on each flight, Wright said.

Feb 25 · 2:16:00 PM · Source: Reuters
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by Steve Wieczorek

United Technologies (UTX)

United Technologies sold $2.25 billion of debt in a two-part sale.
The offering included $1.25 billion of 10 year notes priced to yield 87 basis points over comparable U.S. Treasuries and $1.0 billion of 30 year bonds priced to yield 109 basis points more than U.S. Treasuries. The joint book managers on the sale were Bank of America Merrill Lynch, BNP Paribas, Citigroup, Deutsche Bank and RBS.

Feb 24 · 12:25:00 AM · Source: Reuters
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by Michael Oliveto

United Technologies (UTX)

The Office of the Architect of the Capitol (AOC) awarded an energy savings performance contract (ESPC) to NORESCO, a national leader in energy efficiency and energy infrastructure solutions, for work in the office buildings of the U.S. House of Representatives. The project includes $34 million in facility infrastructure upgrades in the Rayburn, Longworth, Cannon, and Ford House Office Buildings, and the House Page Dormitory. NORESCO is a subsidiary of Carrier Corp., which is a unit of United Technologies.
The infrastructure upgrades will pay for themselves through more than $67 million in reduced energy and water consumption costs over the project term. After completion of construction, the House Office Buildings are expected to reduce energy consumption by 23 percent and total water consumption by 32 percent.

Feb 24 · 12:23:00 AM · Source: PR News Wire
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by Michael Oliveto

United Technologies (UTX)

Sikorsky Global Helicopters, a business unit of Sikorsky Aircraft Corp., which is a subsidiary of United Technologies, is seeing a resurgence of interest in its S-300C and S-300CBi helicopters, with sales activity for the beginning of 2010 showing a 50 percent increase over the same time period in 2009.
All incoming orders so far in 2010 have been fleet orders of two to four helicopters each for flight training, patrol, agricultural and wildlife work, and other diverse operations in the United States and around the world. "In lean economic times, more operators have come to recognize S-300 series helicopters as reliable, economic solutions to their mission requirements," said David Oglesbee, director, Sikorsky Global Helicopters Light Helicopter Division. "Low operating costs and a strong safety record also have encouraged customers to add S-300 series helicopters to their fleets to grow and diversify their businesses in a soft market."

Feb 24 · 12:21:00 AM · Source: Reuters
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by Michael Oliveto

Boeing (BA)

Boeing and its customer NASA announced that the Tracking and Data Relay Satellite (TDRS) K-L program successfully completed its system-level Critical Design Review (CDR) and Production Readiness Review (PRR) in El Segundo on Feb. 19.
"This is a major step toward developing a new generation of tracking and data relay satellites that will deliver high-resolution images, video, voice and data from Earth-orbiting spacecraft to the ground for vital Earth- and space-science missions," said Craig Cooning, vice president and general manager of Boeing Space and Intelligence Systems. "The extraordinary effort by the NASA and Boeing members of the TDRS team to conduct these successful reviews is a testament to the enduring partnership between Boeing and NASA."

Feb 24 · 12:15:00 AM · Source: FinChannel
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by Michael Oliveto

GE (GE)

GE Healthcare, Intel Corporation and Mayo Clinic are investigating a new model of health care delivery for patients at increased risk of rehospitalization that is designed to meet patients’ needs where they are, including in their homes.
Mayo Clinic will conduct a yearlong research study to determine if home monitoring of patients with chronic diseases, using Intel’s remote patient monitoring technology, will reduce hospitalizations and emergency department (ED) visits. This study reflects the commitment of GE Healthcare, Intel and Mayo Clinic to develop new patient-centered delivery care models. With the numbers of seniors expected to rise dramatically and increasing numbers of patients experiencing chronic disease, the current focus on face-to-face clinic interaction with the provider is not a sustainable delivery model. Technology could enable new care models to help rein in costs and improve patient outcomes through personalized care and ongoing disease management at home and in the community.

Feb 24 · 12:12:00 AM · Source: Company Press Release
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by Michael Oliveto

Boeing (BA)

Boeing says one of its new 787s made an unplanned landing because an engine lost thrust unexpectedly.
Pilots landed at the airport in Moses Lake in central Washington on Friday. It had taken off from Boeing Field near Seattle. Boeing says the plane had an "uncommanded loss of thrust" in one of its two engines. Boeing spokesman Jim Proulx (PROO) says the 787 can fly on one engine, but it’s normal procedure to land when there’s an engine problem.

Feb 24 · 12:09:00 AM · Source: ONN
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by Michael Oliveto

GE (GE)

GE is looking for up to 50 new suppliers in metro Detroit to make about $25 million worth of parts for home appliances.
GE is expected to hold a procurement fair in late March or early April to interview and select suppliers. Many of the 200-300 manufacturers invited will be former automotive parts makers looking to diversify. Last June, GE Chairman and CEO Jeff Immelt announced that GE would invest $100 million and create 1,100 jobs at its new center for advanced manufacturing technology and software in Van Buren Township.

Feb 24 · 12:07:00 AM · Source: Michigan Business
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by Michael Oliveto

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