United Technologies Big Contract, Siemens Guides Earnings Down
Koninklijke Philips (NYSE:PHG): Philips warns its healthcare unit will report lower Q4 sales growth due to delays in delivering orders and will take a Q4 charge because of weak European markets, in particular its lighting division. The company reports earnings on Jan. 30. The shares closed at $19.05, down $1.1, or 5.46%, on the day. Its market capitalization is $17.91 billion.
Siemens AG (NYSE:SI): As global weakness throttles investment by its customers, Siemens warns it may miss its “very ambitious” full-year guidance. Siemens sees a significant increase in industrial demand in H2, but only after a slow first half. The shares closed at $97.04, down $0.23, or 0.24%, on the day. Its market capitalization is $84.84 billion.
United Technologies (NYSE:UTX) company Pratt & Whitney won a $194,097,296 long-lead production contract with the U.S. Department of Defense for F135 engines to power the F-35 Lightning II. The low rate initial production contract is for long-lead materials for the sixth lot of F135 engines, and allows Pratt & Whitney to start gathering long-lead items for production engines.
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