United Technologies Remains Firmly Negative After Early Sell-Off

(RTTNews) - Shares of United Technologies Corp. (UTX) continue to see significant weakness in late-day trading on Tuesday after falling sharply early in the session. After hitting its lowest intraday level in nearly a month, United Technologies is currently down by 4.4 percent.

The early sell-off by United Technologies came after the conglomerate announced the completion of its acquisition of Rockwell Collins (COL) and its intention to separate its commercial businesses, Otis and Carrier, into independent entities.

"Our decision to separate United Technologies is a pivotal moment in our history and will best position each independent company to drive sustained growth, lead its industry in innovation and customer focus, and maximize value creation," said United Technologies Chairman and CEO Gregory Hayes.