United Tech SELLING Rocketdyne Unit and 1 Morning Hot Stock Making Headlines

July 23, 2012

In an effort to trim some of the debt it took on to acquire Goodrich (NYSE:GR), United Tech (NYSE:UTX) is selling its Rocketdyne unit, the world’s largest manufacturer of liquid-fueled rocket propulsion systems, to GenCorp (NYSE:GY) for $550 million.

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DigitalGlobe (NYSE:DGI) and GeoEye (NASDAQ:GEOY) are to merge in a $900 million stock-and-cash deal that will create “a global leader in earth imagery and geospatial analysis” according to the press release. The deal pricing marks a 34 percent premium on GeoEye’s Friday closing.

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