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US and European Stocks Decline Friday

U.S. stocks were in the red on Friday as the number of coronavirus cases reached 10,000. The Dow Jones Industrial Average fell 1.85% to 28,317, the S&P 500 Index lost 1.61% to 3,230 and the Nasdaq Composite Index declined 1.26% to 9,181.

Non-index stocks have also posted gains and losses recently. Shares of Honeywell International Inc. (NYSE:HON) fell almost 4% on Friday after the company announced fourth-quarter results. Earnings of $2.06 per share beat estimates by 2 cents. Revenue of $9.5 billion fell $120 million short of expectations.

"We finished 2019 with a strong fourth quarter," Chairman and and CEO Darius Adamczyk said. "Organic sales were up 2% for the quarter and up 5% for the full year, driven by continued strength across Aerospace, growth in Process Solutions, and demand for commercial fire, security and building management products. We also had strong bookings in Intelligrated again, up over 100% in the fourth quarter. Our growth and productivity rigor, in addition to the impact of the 2018 spin-offs, drove 130 basis points of segment margin expansion in the quarter, and 150 basis points for the full year."

Sales for the quarter declined 2% on a reported basis and grew 2% on an organic basis. Aerospace sales inched up 7% on an organic basis due to strong performance in the Defense and Space business, growth in the air transport commercial aftermarket and original equipment demand in business aviation.Building Technologies sales were up 3% on an organic basis, driven by continued demand in commercial fire and building management products. Performance Materials and Technologies sales were up 3% on an organic basis, driven by continued strength in Process Solutions. Safety and Productivity Solutions sales declined 11% on an organic basis.

Looking torward full-year 2020, the company expects sales of $36.7 billion to $37.8 billion. Further, the segment margin expansion is projected to be between 20 and 50 basis points; and earnings per share are anticipated to be from $8.60 to $9.

During the quarter ended Sept. 30, Ken Fisher (Trades, Portfolio) reduced his holding by 1% to 233,221 shares and Mario Gabelli trimmed his position by 12% to 928,304 shares.


  • Amazon.com Inc. (NASDAQ:AMZN) +8.1%
  • Colgate-Palmolive Co. (NYSE:CL) +6.3%
  • Eastman Chemical Co. (NYSE:EMN) +2.4%
  • Marathon Petroleum Corp. (NYSE:MPC) +1.2%
  • Clorox Co. (NYSE:CLX) +1%


  • Celanese Corp. (NYSE:CE) -6.5%
  • Edwards Lifesciences Corp. (NYSE:EW) -5.3%
  • Amgen Inc. (NASDAQ:AMGN) -4.8%
  • Macy's Inc. (NYSE:M) -5.7%
  • Nordstrom Inc. (NYSE:JWN) -5.2%

Global markets

The main European stock markets traded in the red. The U.K.'s FTSE 100 fell 1.30%, France's CAC 40 lost 1.11%, Germany's Dax retreated 1.33% and Spain's Ibex 35 dipped 1.16%.

In Asia, Japan's Nikkei 225 gained 0.99%, India's BSE Sensex declined 0.47%, Hong Kong's Hang Seng fell 0.52% and China's Shanghai Composite tumbled 2.75%.

Disclosure:The author holds no positions in any stocks mentioned.

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This article first appeared on GuruFocus.