On Thursday, Johnson Controls Inc (NYSE:JCI)’s shares inclined 0.13% to $40.03.
Johnson Controls declared it is planning to reduce its global salaried workforce by as many as 3,000 people, or 2.5% of total employees, through comprehensive initiatives designed to ultimately deliver up to $250 million in annual cost savings. These actions will occur over the next two years.
In its third quarter earnings declaration, the company declared it was initiating a comprehensive cost saving program to address existing costs. Productivity improvements continue to be realized through the ongoing implementation of the Johnson Controls Operating System (JCOS) which is lowering annual operating expenses through standardization, simplification and waste reduction across the company.
“As we continually adapt to our changing business portfolio, there is noteworthy opportunity across the company for us to reduce costs, simplify processes and improvement our speed and agility,” said Alex Molinaroli, chairman and CEO. “The steps we are taking now will enable a more competitive, sustainable cost structure for Johnson Controls as we continue to move the company forward.”
Johnson Controls, Inc. (Johnson Controls) manufactures, installs and services automatic temperature regulation systems for buildings. The Company operates in three business segments, which comprise Building Efficiency, Automotive Experience and Power Solutions.
Opko Health Inc. (NYSE:OPK)’s shares gained 3.09% to $9.85.
Opko Health declared that senior administration will present at the Ladenburg Thalmann 2015 Healthcare Conference on September 29th, 2015 at 11:00 AM (ET). Administration will be available for one on one meetings.
OPKO Health, Inc. (OPKO) is a biopharmaceutical and diagnostics company. The Company is involved in developing a range of solutions to diagnose, treat and prevent various conditions, counting point-of-care tests, laboratory developed tests (LDTs), molecular diagnostics tests, and pharmaceuticals and vaccines.
At the end of Thursday’s trade, United Technologies Corporation (NYSE:UTX)‘s shares dipped -0.16% to $86.82.
Pratt & Whitney, a United Technologies Corp. (UTX) company, has signed a depot activation contract with the Netherlands Ministry of Defense (MOD) to establish a Maintenance, Repair, Overhaul, & Upgrade (MRO&U) capability for the F135 engine which powers the F-35 Lightning II fighter aircraft.
This initial contract will comprise planning and administration activities required for MRO&U activation in 2019. Follow-on contracts with P&W and the F-35 Joint Program Office are predictable in support of the establishment of F135 depot capabilities, counting, but not limited to, assembly, disassembly, cleaning, inspection and testing at the Logistics Center Woensdrecht. This past December, the U.S. Department of Defense (DoD) assigned the Netherlands as one of the European countries where the maintenance of the F135 engines will be carried out.
“We are happy to have reached a contract with the Netherlands MOD for depot activation support for the F135 engine,” said Bennett Croswell, president, Pratt & Whitney Military Engines. “As we prepare for an improvement in F135 engine production, we need partners who demonstrate the high levels of technical capabilities that are required to support the F135 internationally. The Netherlands MOD’s participation in MRO&U will ensure we have robust sustainment capability in the European region.”
United Technologies Corporation (UTC) provides high technology products and services to the building systems and aerospace industries across the world. The Company operates through five segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney; UTC Aerospace Systems and Sikorsky. Otis designs, manufactures, sells and installs a range of passenger and freight elevators for low-, medium- and high-speed applications.
Spectra Energy Corp. (NYSE:SE), ended its Thursday’s trading session with -0.29% loss, and closed at $27.34.
Spectra Energy Chief Executive Officer Greg Ebel spoke at the Raymond James 11th Annual North American Equities Conference on Tuesday, September 22, 2015. Ebel also serves as chief executive officer of Spectra Energy Partners (SEP).
Spectra Energy Corp is a natural gas infrastructure company. The Company owns and operates natural gas-related energy assets and a crude oil pipeline system connecting Canadian and the United States producers to refineries in the United States Rocky Mountain and Midwest regions.
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