United Technologies Torpedoed After Lowering FY 2015 Guidance

em>Joel Elconin is the co-host of

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United Technologies

shares are trading lower by $8.40 at $102.08 in Tuesday's session. After announcing a Q2 beat for EPS ($1.81 vs. Est. $1.73) but on lower revunues ($16.33B Vs. Est. $16.57B), the Steet was rattled by lowered FY 2015 guidance. The company is now forecasting EPS ($6.45-$6.60 vs. Est. $6.85) and lower sales ($57B-$58B vs. Est. $64.78B). The route that took place during the premaket has spilled over into the regular session. After a sharply lower open ($104.35 vs. Monday's close $110.48), it popped only $0.60 to $104.95 before another wave of sellers flooded the issue. So far, it has reached $101.78 and has not been able to distance itself from that level. That marks the lowest level for the issue since it bottomed on October 22 at $101.06. Today's beatdown is taking place on much heavier than average volume. So far, it has traded 14.4M shares compared with its 20 day average of 4.6, which was adjusted higher by the 7.5M shares that changed hands in Monday's session.