EdgeWater 10/27/2010 10:08:20 PM
News / Business

Conglomerates Stocks in Focus (General Electric, TXT, UTX)

Conglomerates Stocks in Focus

General Electric Company (NYSE:GE) rose 0.62% to $16.16. The company said Monday it won a $750 million contract to expand an electric power station in Andhra Pradesh, India, with gas turbines.

The company said the deal includes the sale of six Frame 9FA gas turbines, three D-11 steam turbines, training, and long-term services.

At today`s closing market price, the market capitalization of the company stands at $172.77 billion.

Textron Inc. (NYSE:TXT) slid 0.77% to $20.67. Last week, the company said that it swung to a third-quarter net loss of $48 million, or 17 cents a share, from a profit of $4 million, or 1 cent a share, a year earlier. Revenue for the quarter fell 2.7% to $2.48 billion.

Analysts polled by FactSet Research had been expecting earnings of 11 cents a share on revenue of $2.62 billion.

Over the past 52-week, the stock traded within the range of $15.88-$25.30.

United Technologies Corporation (NYSE:UTX) dropped 0.45% to $74.67. The company reported Wednesday that its third-quarter net income climbed 13% to $1.2 billion, or $1.30 a share, from $1.06 billion, or $1.14 a share, in the prior-year quarter.

Analysts, on average, expected the company to report earnings of $1.28 per share on revenue of $13.92 billion.

The stock opened at $74.47 and was trading within the range of $74.03-$74.82.

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