HARTFORD, Conn. — United Technologies felt the impact of the downturn in aerospace and commercial real estate markets as key businesses posted declines in the third quarter.

The Hartford-based company said today markets are stabilizing, though at lower levels.

The conglomerate that runs jet engine maker Pratt & Whitney, Otis elevator, Sikorsky Aircraft and other business, said it earned $1.06 billion, or $1.14 per share, down 17 percent from the same period last year.

Revenue for the quarter ended Sept. 30 was $13.38 billion, down 11 percent from the year-ago period.

NEW YORK — Pfizer posted a higher third-quarter profit despite the recession, as sharp cost cuts made up for slightly lower sales.The world's biggest drugmaker slashed costs on everything from manufacturing and marketing to research and development to produce a profit of $2.88 billion. That was up 26 percent from last year, when the company had a huge legal charge over promotion of its painkillers.Pfizer will keep cutting costs, now that it has completed the biggest drug industry deal of the year. The $68 billion acquisition of Wyeth cements Pfizer's position atop the industry, and the combined company is expected to eliminate nearly 20,000 jobs by the time integration is complete.

PEORIA, Ill. — Caterpillar said its profit plunged in the latest quarter as construction companies bought fewer of its big yellow-and-black machines.But the company said it sees rebounding demand worldwide and it lifted its profit outlook for the year.Caterpillar has struggled with waning demand since the global economy deteriorated late last year. To cope, it has cut production and thousands of jobs.Caterpillar said it earned $404 million during the July-September period. That compares with $868 million, or $1.39 per share, during the same period a year earlier.

NEW YORK — Coach's fiscal first-quarter profit fell slightly, but revenue rose as new, lower-priced handbag lines helped juice sales.The company blamed heavy promotions spurred by the recession-fueled consumer pullback for its thinner profit margins. But the sales increase was an encouraging sign for a luxury-goods market that has suffered.The New York maker of luxury accessories on today said first-quarter profit fell 3 percent to $140.8 million from $145.8 million, a year earlier. Per-share results were the same in both periods.Revenue rose 1 percent to $761.4 million, helped by an 8 percent rise in sales at North American stores and growing business in China.

DOVER, Del. — DuPont offset falling sales and prices using cost cuts and reported larger third-quarter profits today.All major chemical makers, including Wilmington-based DuPont, were hit first by soaring crude and energy costs last year, and then plummeting sales both in the U.S. and abroad. Cutting expenses became a priority for the industry, and DuPont said it reduced spending by $900 million so far this year, just short of its full-year goal of $1 billion.Costs have since fallen, 12 percent for DuPont during the third quarter, and could be as much as 6 percent lower by the end of the year, the company said. That led to a surprise profit of $409 million for the quarter ending Sept. 30, compared to $367 million in last year's third quarter, which included a hurricane-related charge of 16 cents per share.