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Another Dow component, United Technologies (NYSE: UTX), beat its bottom-line forecasts, but like most of the companies we've seen, they did so as a result of cost-cutting.
Revenues of $13.2 billion were below the consensus forecast for revenue of $13.92 billion. The diversified manufacturer also cut its revenue guidance for the year, and lowered the high-end of its profit forecast range.
The company did beat analysts' expectations of $1.04 per share, with a $1.32 per share in net income, but that's not enough of a reason for me to recommend the stock.
I rate UTX a D, or sell.
Next: Stock #10
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