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Business/Financial

UTC Stumbles In Second Quarter, Lowers Guidance For 2015

By Cal Biesecker

Tuesday, July 21st, 2015

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UTC Stumbles In Second Quarter, Lowers Guidance For 2015

UTC Chairman and CEO Gregory Hayes. Photo: UTC

Fresh off announcing a $9 billion sale of its Sikorsky Aircraft division, United Technologies Corp. [UTX] on Tuesday posted lower sales and earnings in its second quarter and the company lowered its guidance for the year due to softened expectations for its commercial aerospace and the people-moving division of its building systems business.Net income fell 8 percent to $1.5 billion, $1.73 earnings per share (EPS), from $1.7 billion ($1.84 EPS) a year ago, topping consensus by two cents per share.…

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