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United Technologies Corporation’s (NYSE:UTX) Pratt & Whitney division has been chosen for funding by the Air Force Research Laboratory for the Adaptive Engine Technology Development program, which is an initiative by the AFRL Propulsion Directorate to mature critical fuel-burn reduction tech and engine design features that could become legacy and next generation military fighter aircraft.
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Time Warner Cable (NYSE:TWC): Time Warner Cable (NYSE:TWC) divests its investment in Clearwire Corporation (NASDAQ:CLWR), according to a Securities and Exchange Commission filing, says Reuters. A spokesperson for Clearwire commented that Time Warner’s approximate 46 million shares represent a 7.8 percent economic interest, and a bit more than 3 percent of the voting shares in the firm.
Exxon Mobil Corporation (NYSE:XOM): On Tuesday, the price of oil dropped again on the speculation that the United States’ economy might slow more, decreasing demand for fuel, says Bloomberg. Oil futures dropped as much as 0.7 percent in New York, to further reinforce Monday’s 2.4 percent decline. Prices for crude fell more than $3 yesterday, in the face of looming expirations of October options.
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