Beacon Equity Research announces the release of Trade Alerts covering market movers: United Technologies Corp. (NYSE: UTX), Kroger Co. (NYSE: KR), Dick’s Sporting Goods Inc. (NYSE: DKS), AeroVironment Inc. (Nasdaq: AVAV), Rambus Inc. (Nasdaq: RMBS) and Palm Inc. (Nasdaq: PALM).
In the Trade Alert, the author highlights United Technologies’ CEO announcement of $600 million additional restructuring actions for 2009 resulting in global employment reductions:
“United Technologies Corp. (UTX) shares surged 7% to $40.19 at noon today. United Technologies provides technology products and services to the building systems and aerospace industries worldwide. … Responding to its 2009 revenue forecast that is $2.7 billion below what the company expected to make when it made its forecast in December, president and CEO Louis R. Chenevert announced $600 million of additional restructuring actions for 2009 and said he now expects restructuring for the year to total $750 million. … According to a press release, these actions will result in global employment reductions of 11,600, primarily from overhead and SG&A reductions throughout United Technologies. Also, additional hourly workforce adjustments may occur during 2009 based on market driven production volume changes. Combined with about 6,400 previously announced job cuts in 2008, the company believes the restructuring moves will save the company $1 billion this year.”
The Trade Alert author also featured Kroger’s fourth-quarter earnings increasing to $349 million:
“Kroger Co. (KR) shares surged 10.48% in today’s mid-day trading, hitting $21.50. Kroger, together with its subsidiaries, operates as a food retailer in the United States. … Kroger, America's largest supermarket chain, recently announced its fourth-quarter earnings rose to $349 million, or 53 cents a share, compared to $323 million, or 48 cents a share, in the same period last year. Total sales, came in at $17.3 billion compared with $17.2 billion for the same period last year.”
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