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Omar Venerio
Articles (1622) 

US Stocks Edge Higher Tuesday

United Technologies jumps on strong 3rd-quarter results

U.S. stocks were in the green on Tuesday, with several companies reporting financial results, including Kimberley-Clark (NYSE:KMB), Procter & Gamble (NYSE:PG), Hasbro (NASDAQ:HAS), Texas Instruments (NASDAQ:TXN) and Snap (NYSE:SNAP). The Dow Jones Industrial Average gained 0.33% to 26,916, the S&P 500 Index rose 0.19% to 3,012 and the Nasdaq Composite Index slid 0.13% to 8,152.

Shares of United Technologies Corp. (NYSE:UTX) gained more than 2% on Tuesday after announcing third-quarter results. The company posted earnings of $2.21 per share on $19.5 billion in revenue. The company beat earnings estimates by 18 cents and revenue expectations by $190 million.

"United Technologies delivered another strong quarter with 5% organic sales growth, as well as margin expansion across all four businesses," Chairman and CEO Gregory Hayes said.

The adjusted operating profit margin increased 120 basis points to 15.3%. Further, the cash flow from operations was $2.5 billion and capital expenditures were $529 million, resulting in free cash flow of $2 billion.

Looking ahead to the full year, the company expects sales between $76 billion and $76.5 billion versus the prior outlook of $75.5 billion to $77 billion. It also projects improved adjusted earnings per share between $8.05 and $8.15 and free cash flow in the range of $5.3 billion to $5.7 billion for the year.

During the quarter ended Sept. 30, the T Rowe Price Equity Income Fund (Trades, Portfolio) boosted its holding by 66% to 265,000 shares, while Steven Romick (Trades, Portfolio) reduced his stake by 10.5% to 2,235,946 shares. Jim Simons (Trades, Portfolio) sold out of the stock.



  • Hasbro Inc. (NASDAQ:HAS) -15%
  • Kimberly-Clark Corp. (NYSE:KMB) -6.2%
  • McDonald's Corp. (MCD) -4%
  • Merck & Co. Inc. (MRK) -3.7%
  • Albemarle Corp.(ALB) -0.9%

Global markets

The main European stock markets traded in the green.The U.K.'s FTSE 100 advanced 0.68%, France's CAC 40 rose 0.17%, Germany's Dax increased 0.05% and Spain's IBEX 35 swelled 0.24%.

In Asia, Japan's Nikkei 225 gained 0.25%, India’s BSE Sensex fell 0.85%, Hong Kong's Hang Seng advanced 0.23% and China's Shanghai Composite rose 0.50%.

Disclosure: The author holds no positions in any stocks mentioned.

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About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor and Area Head of Finance. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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