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UTC Notches Strong First Quarter, Raises Earnings Guidance For Year

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By Calvin Biesecker United Technologies Corp. [UTX] yesterday opened its fiscal year on a high note, posting double-digit earnings and sales gains and the diversified industrial firm raised its earnings guidance for the fiscal year. Exceptionally strong results in UTC's Carrier heating and cooling business led the company to increase its earnings guidance for the year. Carrier's margins were a record 11.2 percent, up over 5 percent as operating profits soared over 100 percent. Net income in the first quarter…

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