Conglomerates Sector Review: Raytheon Demos JLENS, GE Capital Cost Savings
Raytheon Company’s (NYSE:RTN) Joint Land Attack Cruise Missile Defense Elevated Netted Sensor System, or JLENS, recently completed Demonstration Test 1, proving its ability to track targets and integrate with fire control and tactical data link systems. A series of demonstration tests were conducted at the Utah Training and Test Range from early November to mid-December 2011. The test included tracking moving ground and surface water targets.
The shares closed at $48.81, down $0.53, or 1.07%, on the day. Its market capitalization is $16.89 billion.
General Electric Company (NYSE:GE): GE Capital Fleet Services announced identified customer cost savings for the full year of 2011. By analyzing and benchmarking fleet data, GE Capital helps customers determine areas to maximize cost savings and increase productivity. The total amount of identified savings for 2011 was $347M, with optimal vehicle cycling for fleets yielding the highest cost savings of more than $124M for the year.
The shares closed at $19.01, up $0.25, or 1.33%, on the day. Its market capitalization is $200.70 billion.
United Technologies Corp. (NYSE:UTX): Pratt & Whitney Rocketdyne successfully completed the first in a series of powerpack hot-fire tests on the J-2X engine, which is being developed for NASA to power humans further into space than ever before. Powerpack tests are designed to evaluate the full range of operating conditions of the engine’s components during flight. NASA selected the J-2X as the upper-stage propulsion for the Space Launch System, or SLS, an advanced heavy-lift launch vehicle. Pratt & Whitney Rocketdyne is a United Technologies (NYSE:UTX) company.
The shares closed at $83.22, up $0.62, or 0.75%, on the day. Its market capitalization is $75.64 billion.
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