Rockwell Collins News
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The chief executive officer of Rockwell Collins Inc. said his company will shift some of its business into the commercial sector as Pentagon budget cuts lead to the dismissal of hundreds of workers.
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Rockwell Collins Inc. said it plans to cut about 6 percent of its workforce in the next year as the aerospace manufacturer’s defense revenue falls amid curtailed U.S. military spending.
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Boeing Co. plans to almost double a $2.2 billion cost-saving program as Pentagon spending declines, while supplier Rockwell Collins Inc. said it will revise its health-care benefits next week, adding to job losses.
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The U.S. budget debate is holding stocks hostage, as chief executive officers prepare to cut capital spending for the first time since 2009 should President Barack Obama and Congress fail to reach an accord.
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Rockwell Collins Inc. has tied up with Tata Power Co. to bid for an Indian Air Force contract as the aerospace-equipment maker seeks to boost sales outside home amid curbs in U.S. military spending.
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Manufacturing in the New York region shrank for a fifth straight month in December, while an increase in optimism about the next six months signals factories are poised to rebound should the federal government resolve its impasse over fiscal policy.
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Inmarsat Plc, the biggest provider of satellite services to the maritime industry, agreed in principle to select Rockwell Collins Inc. as technology partner to develop aeronautical services.
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Rockwell Collins Inc., the aerospace-equipment maker, climbed to the highest since July after projecting corporate-jet production gains this year and posting earnings that topped analysts’ estimates.
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Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 4 p.m. in New York.
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Rockwell Collins Inc. Chief Executive Officer Clay Jones says he no longer doubts that Boeing Co. and Airbus SAS can deliver their promised airplane production, even amid slumping demand.
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