United Technologies Corporation (UTX) reported third quarter 2009 earnings per share of $1.14 and net income attributable to common shareowners of $1.1 billion, down 14% and 17%, respectively, from the year ago quarter. This was ahead of the Zacks Consensus Estimate of $1.12.  Revenues for the quarter at $13.4 billion were 11% below prior year including organic decline (7%) and adverse foreign currency translation (3%). Segment operating margin at 14.5% was 20 basis points higher than the prior year.  Cash flow from operations less capital expenditures was 160% of net income attributable to common shareowners on significant inventory reductions across both commercial and aerospace businesses. Cash flow from operations was $1.9 billion, including $150 million of domestic pension contributions. Capital expenditures were $161 million in the quarter.  United Technologies expects 2009 earnings per share at $4.10, the midpoint of the prior range of $4.00 to ...

For Immediate Release

Chicago, IL – November 3, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Ford Motor Company (F), Wipro Limited (WIT), General Electric Company (GE), Cognizant Technology Solutions Corporation (CTSH) and Infosys Technologies Limited (INFY).

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Here are highlights from Monday’s AnalystBlog:

Ford Turns Impressive Profit

Ford Motor Company (F) returned to profitability in the third quarter of the year by posting a net income of $873 million or 26 cents per share, easily clearing the Zacks Consensus Estimate loss of 15 cents per share

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Wipro Limited (WIT) announced second quarter of fiscal year 2010 results. Total revenue for quarter ended Sep 30, 2009, was Rs 69.18 billion ($1.44 billion), representing an increase of 6% over the same period last year. Net income for the quarter ended Sep 30, 2009, was Rs 11.71 billion ($243 million), representing an increase of 21% from the same period last year. Earnings per share for the quarter ended Sep 30, 2009, were Rs 8.04 (17 cents), representing an increase of 20% over the same period last year. This exceeded the Zacks Consensus Estimate of 14 cents per share.  IT Services business segment recorded revenue of Rs 49.98 billion ($1039 million) for the quarter ended Sep 30, 2009, representing an increase of 5% over the same period last year. EBIT for this segment was Rs 11.80 billion ($245 million) for the quarter ended Sep 30, 2009, representing an ...

Siemens AG (SI) is set to acquire the solar thermal power company Solel Solar Systems Ltd. To date, the majority stake has been held by Ecofin Ltd., a London-based investment firm, and another major shareholder. The purchase price is about $418 million (currently equivalent to around €284 million). The transaction is subject to approval by the responsible authorities. It is anticipated that the closing will take place before the end of this calendar year. Solel is a successful company in the future-oriented solar power sector, with decades of experience in the development and manufacture of solar field equipment and the planning and construction of solar fields. Since 2006, Solel has also been present on the Spanish market, supplying key components for 15 solar thermal power plants with a combined capacity of 750 megawatts. In addition, the company is also active on the important U.S. market....

Tendril, the developer of the first integrated software/hardware platform to enable real-time, two-way communications between utilities/retailers and their customers on energy supply and consumption, is broadening its smart grid relationship with General Electric Company (GE) beyond appliances with an equity investment by GE Energy Financial Services.  GE Energy Financial Services is treating the venture capital investment as a follow-up to Tendril’s announcement in June that it raised $30 million in Series C funding, making it one of the best-funded energy management startups.  The Tendril Residential Energy Management Ecosystem (TREE) is designed to help utilities operate more efficiently to improve customer service and comply with new regulatory requirements.  GE’s investment builds on its appliances partnership with Tendril. GE Consumer & Industrial and Tendril announced in July that they would integrate the TREE Platform to work with GE's dryers, refrigerators, washing machines and other appliances. GE appliances ...

United Technologies Corporation (UTX) announced George David, 67, will retire as Chairman of the Board of Directors at the end of the year, concluding 34 years of service with UTC, including 14 years as Chief Executive Officer. Louis Chenevert, 52, President and Chief Executive Officer, will succeed David as Chairman, effective Jan 1, 2010, following his election by the UTC board. David will remain a consultant and adviser to the corporation for 2010.  During George’s tenure, notable changes were UTC's global expansion, with international revenues growing from 25% to more than 60% today, and its focus on process and research disciplines.  Since David took the helm in 1994, profit and revenue soared, with much of the success attributed to his hard-charging style. But with the start of the global recession last year, it is up to Chenevert to push through a large restructuring plan that will eliminate ...

General Electric Company (GE) reported earnings per share of 22 cents for the third quarter of 2009, beating the Zacks Consensus Estimate of 20 cents. The reported earnings include the effect of 5 cents per share in restructuring and other charges, down 51% from the third quarter of 2008. We consider these charges to be an integral part of continuing operations, and hence no adjustments have been made. Industrial segment profit grew 4% in the quarter compared to the year-ago period. Cash generated from GE Industrial operating activities totaled $4.4 billion in the quarter and $11.5 billion year to date, up 1%. Total company backlog of equipment and services grew 2% to $174 billion over the prior quarter, an all-time high. Industrial segment profit grew 4% versus the third quarter of last year. An 11% increase in Energy Infrastructure earnings and NBC Universal’s 13% earnings ...

For Immediate Release

Chicago, IL – October 13, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Royal Philips Electronics (PHG), Sony Corporation (SNE), General Electric Company (GE), Panasonic Corporation (PC) and Nucor Corporation (NUE).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Monday’s Analyst Blog:

Philips Misses Zacks Consensus

Royal Philips Electronics (PHG) reported earnings of 27 cents per share for the third quarter of 2009, below the Zacks Consensus Estimate of 38 cents.

Sales amounted to $8.04 billion, a decline of 11% on both nominal and comparable bases.

Healthcare

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Royal Philips Electronics (PHG) reported earnings of 27 cents per share for the third quarter of 2009, below the Zacks Consensus Estimate of 38 cents. Sales amounted to $8.04 billion, a decline of 11% on both nominal and comparable bases. Healthcare sales declined by 4% on a comparable basis due to declines at Clinical Care Systems, Imaging Systems and Healthcare Informatics. Consumer Lifestyle sales fell by 15% on a comparable basis, due to declines in all businesses except Health & Wellness. Lighting sales declined by 13% on a comparable basis, led by double-digit declines at Professional Luminaires, Lighting Electronics and Automotive Lighting. In mature markets, double-digit declines at Lighting and Consumer Lifestyle were offset by a mid-single digit decline at Healthcare. Sales in emerging markets showed sequential improvement although it remained 11% below the level achieved in the corresponding prior-year quarter....

Pratt & Whitney Rocketdyne has been awarded a 10-month contract by Lockheed Martin for preliminary design of the high speed accelerator for a turbine-based combined-cycle (TBCC) propulsion system, which could support flight up to Mach 6. Pratt & Whitney Rocketdyne is a unit of United Technologies Corporation (UTX).  In Phase I of the TBCC Mode Transition Demonstrator Program, Pratt & Whitney Rocketdyne will develop preliminary designs for a dual-mode ramjet combustor with related control and fuel system components.  El Al , Israel 's national airline, signed a five-year, $70 million extension agreement with jet engine maker Pratt & Whitney for engine maintenance and overhaul. The service is for PW4060 engines on El Al's Boeing 767s and 747-400s. The agreement includes management and overhaul of the engines with an option to extend the contract for up to five more years.  United Technologies Corp.'s Sikorsky Aircraft received ...