United Tech Tops Street; Shares Fall

Stock quotes in this article: UTX  

Executive remarks about the direction of an economic recovery were equally cautious. "Order rates for most of our businesses have largely stabilized, although the shape of recovery is still uncertain," said the company's chief, Louis Chenevert, in a statement.

Investors reacted wanly to the news. Toward the end of Tuesday's session, shares of United Technologies, which also makes Otis elevators and Carrier air conditioners, had fallen 17 cents, or 0.26%, to $65.27.

-- Written by Scott Eden in New York

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Scott Eden has covered business -- both large and small -- for more than a decade. Prior to joining TheStreet.com, he worked as a features reporter for Dealmaker and Trader Monthly magazines. Before that, he wrote for the Chicago Reader, that city's weekly paper. Early in his career, he was a staff reporter at the Dow Jones News Service. His reporting has appeared in The Wall Street Journal, Men's Journal, the St. Petersburg (Fla.) Times, and the Believer magazine, among other publications. He's also the author of Touchdown Jesus (Simon & Schuster, 2005), a nonfiction book about Notre Dame football fans and the business and politics of big-time college sports. He has degrees from Notre Dame and Washington University in St. Louis.

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