Otis Takes United Technologies' Stock To Basement

United Technologies (UTX) blamed slowing growth in China, the soft commercial aftermarket for aerospace products, and weakness in elevators for its disappointing second-quarter results and outlook. The Hartford, Conn.-based company earned $1.73 a share in Q2, down 6% from a year earlier, beating by 2 cents estimates of analysts polled by Thomson Reuters. Revenue slid 5% to $16.3 billion, missing estimates of $16.5 billion. United Technologies

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