Earnings roundup: United Airlines, UnitedHealth

Earnings roundup: United Airlines parent sees business travel improving, UnitedHealth net up

• By The Associated Press
• On 2:21 pm EDT, Tuesday October 20, 2009

Among the earnings stories for Tuesday, Oct. 20, from AP Financial News:

United Airlines parent UAL Corp. reported a money-losing third quarter on Tuesday but said it is beginning to see signs that business travel could pick up soon.

Managed care company UnitedHealth Group Inc. saw its third-quarter profit jump 13 percent, as growth in several businesses helped balance another enrollment decline and fight off a touch of swine flu.

United Technologies Corp. continued to feel the impact of the downturn in aerospace and real estate markets as nearly all its businesses posted declines in the third quarter.

Investment manager BlackRock Inc. said Tuesday its third-quarter profit jumped 46 percent on gains from cost-cutting and a market rally that whetted investors' appetites for higher-risk investments.

Precision Castparts Corp. said Tuesday its fiscal second-quarter profit fell 23 percent. The maker of metal components and products cited the effects of continued aerospace destocking, economic pressures on industrial markets, downtime at major forging complexes and European holidays.

Illinois Tool Works Inc., which makes industrial equipment, said Tuesday its third-quarter profit fell 33 percent on lower sales, charges and a higher tax rate.

Paint maker Sherwin-Williams Co. on Tuesday said weaker paint sales to residential, commercial, consumer and global customers drove down third-quarter earnings, but stricter cost controls helped soften the blow.

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