Businessweek Archives

United Technologies: Going Up


In Business This Week: CLOSING BELL

UNITED TECHNOLOGIES: GOING UP

Asia and cold weather may spell woes for United Technologies. But its stock hit an all-time high of 98 1/4 on Apr. 14 and closed at 95 5/8 the next day. Why? Wall Street loves cost-cutting. On Apr. 13, UT's Otis Elevator announced a 3% workforce cut and the closing of 13 engineering centers--moves analysts say will drive margins into double digits. Belt tightening is also expected at air-conditioner maker Carrier. But the Asian building boom UT was counting on for growth seems stuck between floors.EDITED BY PAT WECHSLERReturn to top

Return to top


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus