Conglomerates Sector Review: New Siemens Partnerships, Emerson Forecasting Flat in FY12
Textron Inc. (NYSE:TXT): AAI Test & Training, an operating unit of Textron Systems, a Textron company, announced that it has received a $7.7 million Advanced Boresight Equipment, ABE, award from the Defense Logistics Agency to provide 16 Model 310A ABE core test systems for the U.S. Air Force and Special Operations Command (SOCOM) Bell Boeing CV-22 Osprey fleets. The company has already delivered more than 40 ABE systems to the Air Force supporting more than 10 different aircraft platforms. In addition, SOCOM has utilized AAI Test & Training’s ABE to align its fixed-wing aircraft fleet for more than five years.
The shares closed at $26.36, up $0.43, or 1.66%, on the day. Its market capitalization is $7.33 billion.
Siemens AG (NYSE:SI) Healthcare Diagnostics announces two new companion diagnostics partnerships with pharmaceutical companies ViiV Healthcare and Tocagen marking a major step for Siemens into this important and fast-growing segment of the in vitro diagnostics market. Siemens’ partnership with ViiV Healthcare will focus on clinical trials related to Celsentri/Selzentry. The Siemens – Tocagen relationship will begin with diagnostic tests to support clinical trials related to Tocagen’s unique viral gene therapy under investigation for the treatment of primary brain cancer, followed by potential commercialization of diagnostic tests for therapy monitoring, subject to FDA approval.
The shares closed at $100.64, up $1.47, or 1.48%, on the day. Its market capitalization is $88.19 billion.
Emerson Electric Co. (NYSE:EMR) is not looking for a huge surge in telecom spending in FY12 — maybe a slight positive, maybe basically flat.
The shares closed at $51.92, down $1.45, or 2.72%, on the day. Its market capitalization is $38.18 billion.
3M Company (NYSE:MMM), which is in the process of cost cutting operations, may be updating its private jet fleet for about $250M, which could generate controversy, according to The Telegraph.
The shares closed at $87.89, up $0.33, or 0.38%, on the day. Its market capitalization is $61.08 billion.
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