|Bid||171.51 x 800|
|Ask||172.99 x 800|
|Day's Range||172.92 - 175.00|
|52 Week Range||123.48 - 178.47|
|Beta (3Y Monthly)||1.20|
|PE Ratio (TTM)||18.30|
|Forward Dividend & Yield||3.28 (1.89%)|
|1y Target Est||N/A|
(Bloomberg Opinion) -- To get Brooke Sutherland’s newsletter delivered directly to your inbox, sign up here.It’s going to be unbearably hot across much of the U.S. this weekend, but the early returns on industrial earnings have been decidedly cool. A nearly 30% run in CSX Corp. shares heading into its second-quarter earnings report suggested this was a company where investors thought they could find shelter amid a growing body of worrisome manufacturing data. They were wrong. The shares slumped more than 10% the day after CSX reversed a forecast for low single-digit growth in revenue this year and predicted instead that revenue would dip as much as 2%. The East Coast railroad says it’s being cautious, but the time for conservatism is when you start the guidance-giving process, so that strikes me as an inadequate explanation for such a deep cut. CEO James Foote said the macroeconomic backdrop was one of the most “puzzling” he’s ever experienced and that there are no concrete signs of improvement in weak coal, intermodal and industrial volumes.Elsewhere in transportation, J.B. Hunt Transport Services Inc. and West Coast railroad Union Pacific Corp. actually saw their shares pop on earnings, but that seems to be a case of more realistic expectations than a drastically more positive view of the macroeconomic environment. J.B. Hunt was essentially flat going into earnings, for example, and Union Pacific had sold off in sympathy with CSX before it reported. Union Pacific said it expects second-half volume to be down about 2%, which implies a decline for the full year compared with an earlier call for a low-single digit gain – basically mimicking CSX’s move. The other challenge with CSX is that it appears to be far enough along in its conversion to precision-scheduled railroading that there isn’t as much fat left to cut as there is at Union Pacific. But it’s track record of improved performance is still relatively short, capping its ability to make market share gains amid a surplus of capacity and lower spot rates in the trucking market. Bloomberg News’s Cameron Crise points out the sharp divergence in the performance of S&P 500 railroads and FedEx Corp. over the past, calling it a proxy of sorts for the trade war-inspired slowdown that’s hit companies with international exposure like FedEx harder than those focused on the domestic market. If U.S. railroad stocks fail to recover from the CSX-inspired selloff and the gap to FedEx narrows, that could be a sign that the domestic economy and the bull market are running out of steam, he writes. FedEx, of course, has plenty of idiosyncratic issues holding back its stock. The company’s annual report filed this week included interesting disclosures abut the risk of an activist shareholder getting involved and some additional detail on the logistics investments that could render Amazon.com Inc. a competitor. Things were a bit better at the multi-industrial companies, but there was still cause for concern. Textron Inc. said its aviation backlog slipped by $100 million in the second quarter as macroeconomic concerns and President Donald Trump’s threat to impose wide-ranging tariffs on Mexico spooked business-jet customers. That’s counteracted by Honeywell International Inc.’s report of double-digit sales growth for new business jet equipment, but still a troubling sign of just how nervous people are about making big investments. You can usually count on Honeywell to churn out an earnings beat, and the company didn’t disappoint, raising its profit guidance for the full year. But the outlook wasn’t as robust as some analysts were expecting. Organic sales growth of 5% could end up being the pace to beat this quarter, but that was weaker than anticipated and a forecast for 2% to 4% growth in the third quarter would suggest an accelerating slowdown. The dynamic of somewhat disappointing sales numbers but steady earnings growth in some ways reinforces Honeywell’s argument that last year’s breakups and a pristine balance sheet will make it more resilient in a downturn, but I remain unconvinced that margins for anything except funeral homes are recession-proof. It helped Honeywell that the sales weakness was mostly confined to its safety and productivity solutions unit, the smallest of its four main businesses, and aerospace remained impressively robust with 11% organic sales growth. The industrial companies on tap to report earnings next week may not be so lucky, particularly 3M Co., which seems destined for yet another guidance cut to reflect the deepening slowdown.ALL BOEING WANTS FOR CHRISTMAS IS A FLYABLE MAXBoeing Co. this week pre-announced a $4.9 billion after-tax second-quarter charge to reflect its estimate of compensation owed to airlines grappling with a grounding of the beleaguered 737 Max that’s now entering its fifth month. American Airlines Group Inc., Southwest Airlines Co. and United Airlines Holdings Inc. this week pulled the Max from their schedules through the beginning of November – a timeline that jibes with Boeing’s call for the plane to return to service during the fourth quarter. But the risk remains that the grounding stretches into 2020. The Federal Aviation Administration, mindful of restoring its reputation as the global standard-bearer of safety protocol, is keen to coordinate a return to service with European and Asian regulators. And while a fix for the flight-software system linked to the Max’s two fatal crashes has essentially been completed, there remain hurdles to remedying a separate issue with a microprocessor that was identified in June, including convincing the FAA that a software update is sufficient, according to the Wall Street Journal. Even if Boeing can get the plane recertified and flying again by the fourth quarter, it matters a great deal which particular month that happens. Airlines estimate it will take a month to 45 days to complete the maintenance necessary to bring the Max jets they already operate out of storage, which is to say nothing of the additional planes they had been expecting to support busy schedules. I would imagine airlines’ demands for compensation would rise materially if they are forced to scramble and reassess capacity for holiday flights. Ryanair Holdings Plc said this week it’s prudently planning for a December return of the Max, but pared its growth plans for the 2020 summer travel season. It can only accept six to eight new Max planes per month, which will leave the budget airline with about half of the fleet it had been planning on for that peak season. Data points like that make me highly skeptical of Boeing’s aspirations to ramp up to a 57-per-month production pace for the 737 program in 2020.A WORD ON WAREHOUSESThere has been a surge of spending over the past few years on industrial warehouse assets. The latest deal came this week , when Prologis Inc. agreed to buy Industrial Property Trust and its 236 properties in areas such as the San Francisco Bay Area, Chicago and New Jersey for about $4 billion. This follows Prologis’s acquisition of DCT Industrial Trust Inc. last year for more than $8 billion and its pursuit earlier this year of GLP Pte’s U.S. warehouse assets, which ultimately went to Blackstone Group LP instead for $18.7 billion. Meanwhile, Tom Barrack’s Colony Capital Inc. is exploring a sale of its unit that owns warehouses as part of a strategic review meant to resuscitate its plunging market value, according to Bloomberg News. I understand the logic of these deals: Retailers are under immense pressure to build out their e-commerce capabilities and shorten their delivery times and on the face of it, that trend looks less vulnerable to the trade war and macroeconomic uncertainties than many others. Even so, it gives me pause to hear Honeywell say customers for its Intelligrated warehouse-automation business are pushing major system rollouts into the second half of the year. Intelligrated is still growing rapidly, with organic sales growth of more than 20% for the first half of 2019, and Honeywell CEO Darius Adamczyk said he knew for a fact that the delayed orders hadn’t gone away. But going back to my earlier comment about funeral homes, I’m getting less confident that even this trend can withstand the test of a true downturn. I asked Bloomberg Opinion's retail expert Sarah Halzack what she thought. She pointed out that companies like Walmart Inc. and Williams-Sonoma Inc. are too far along in converting their businesses to e-commerce to back out, whereas those who are already struggling such as J.C. Penney Co. will find it harder to justify making those kinds of investments.DEALS, ACTIVISTS AND CORPORATE GOVERNANCEJohn Flannery has resurfaced. The former CEO of General Electric Co. will now be an advisory director to Charlesbank Capital Partners, a middle-market private equity firm managing more than $5 billion of capital. I’ve always felt a bit bad for Flannery, who spent 30 years working his way up the ladder at GE and finally ascended to the CEO post, only to find out that his actual job was going to be more akin to a garbage man. Sure, he made his share of mistakes as CEO. But the reality is he was probably never going to last in that job no matter what he did. GE needed one CEO to publicize and unearth the skeletons in its closet ($22 billion goodwill writedown on the disastrous Alstom SA deal, $15 billion reserve shortfall in the long-term care insurance business) and another CEO to try to fix the mess. That’s now Larry Culp. Still, it has to sting a bit that Steve Bolze, Flannery’s competitor in the race to succeed Jeff Immelt, is a senior managing director at Blackstone, a slightly more prominent firm than Charlesbank. Bolze is blamed by many investors for mismanaging GE’s power unit and exacerbating the financial pain from a slump in gas turbine demand.Crane Co.’s bid for Circor International Inc. got a last minute surge of support. Mario Gabelli’s Gamco Investors Inc. agreed to tender shares to Crane after the buyer raised its price to $48 a share earlier this month. Roughly 45% of outstanding Circor shares have been elected to be tendered, people familiar with the matter told Bloomberg News. That’s not enough to force a merger (although there are still a few more hours before the tender offer expires at midnight), but it should be enough to get the attention of Circor’s board’s. In the wake of the Crane offer, Circor laid out a bold (and by nature, rather fluffy) plan to boost margins and lower debt. Shareholders are now signaling quite loudly that they don’t have much faith in the company’s ability to follow through. It’s pretty remarkable to see this level of pushback outside of an annual meeting, though. I had worried Crane’s bid might have been the victim of bad timing, with its offer becoming public a few weeks after Circor’s 2019 meeting. The fact that Circor’s board had privately received the Crane offer prior to the meeting and didn’t feel a need to tell investors about it has been one of Gabelli’s chief criticisms. This level of support from Circor shareholders may save Crane from having to wait a year to relaunch its bid with a proxy fight.Osram Licht AG, the lighting maker that’s agreed to sell itself to Bain Capital and Carlyle Group LP, disclosed this week that Austrian industrial manufacturer AMS AG had made a fresh offer for the company at a higher price. Bain and Carlyle are offering 35 euros per share, or 3.4 billion euros ($3.8 billion), while AMS had proposed to pay 38.50 euros per share, or about 3.7 billion euros. The problem is, AMS itself is valued at less than what it offered for Osram; it’s had negative free cash flow for at least the past two years; and it’s already carrying about 1.2 billion euros of net debt. Osram agreed to let AMS perform due diligence, but said the probability of a deal materializing was “rather low.” Literally the same day that its latest offer was disclosed, AMS said it was walking away. In some ways that’s actually kind of surprising – why wouldn’t you take the opportunity to do due diligence? But anyway, this amusing M&A adventure has now come to an end.Callon Petroleum Co. agreed to buy Carrizo Oil & Gas Inc. in an all-stock transaction valued at $3.2 billion including debt. Bernstein analyst Bob Brackett called it a “pretty lame deal all-in-all”, while my Bloomberg Opinion colleague Liam Denning said the merger sounds a “distinct sad-trombone note.” Carrizo helps Callon double down on the Delaware Basin with contiguous acreage and lets it add free cash flow on the cheap, but it also dilutes its status as a pure-play operator by adding acreage the Eagle Ford region, where it may be harder to find cost savings. Some investors may have viewed Callon as a target and are disappointed to see it on the other end of a deal. The consolidation of shale players is healthy and necessary, Liam writes. But the fact that Carrizo has chosen to sell at a modest premium when its stock was trading at the lowest levels in a decade is pretty telling, too.CRH Plc agreed to sell its European plumbing and heating-distribution business to Blackstone for 1.64 billion euros ($1.9 billion). CEO Albert Manifold has been trying to steer the company toward higher growth markets including cement and raise money for acquisitions. This deal helps it do both. Davy analyst Robert Gardiner says the purchase price is attractive at about 16 times earnings before interest and taxes.BONUS READING Saturday Will Be Hot. Oil and Gas Will Be Not: Liam Denning Axalta Is Said to Draw Interest From Kansai Paint and PPG Ex-Cons Find Second Chances Easier to Get in Tight Labor MarketThe Moon Is the Next Frontier in Rivalry Between China and U.S. Porch Pirates Spot Criminal Opening in Amazon Prime Day BonanzaTo contact the author of this story: Brooke Sutherland at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Defense industry players in the Valley and Pima County took it on the chin in 2013 when U.S. budget sequestration included $42.7 billion in federal government defense cuts. Those painful days are now in the past and the sector is surging, with more hiring and new contracts.
The stock market again took a break from its robust rally as it digests more earnings results. We've seen plenty of mixed results, but so far, the market is handling the news pretty well. Here are a few top stock trades to watch going into the last trading day of the week. Top Stock Trades for Tomorrow 1: IBM Click to EnlargeInternational Business Machines (NYSE:IBM) started off lower on the day, but climbed more than 4.5% later in the day after reporting its earnings results. InvestorPlace - Stock Market News, Stock Advice & Trading TipsLast week, IBM stock pushed over downtrend resistance (blue line) and this week's move cements it. That prior downtrend mark is now a must-hold level for investors. I would love to see IBM stock stay above the trio of candlesticks that marked the weekly closing highs for the past 52 weeks. That's the black line that comes into play near $146. If it holds, shares could run into the mid- to high-$150s and possibly challenge the 2018 highs. Below the ~$146 mark and we'll need to see if the 10-week moving average holds as support. Top Stock Trades for Tomorrow 2: Honeywell Click to EnlargeLook at the beautiful "inside day" Honeywell (NYSE:HON) is printing after reporting its quarterly results and raising guidance. An inside day occurs when the entire range of the second day is "inside" the range of the prior trading session.Of course, this one is even more interesting as HON stock initially lost, then reclaimed the 50-day on Thursday, but couldn't get above the 21-day moving average. Hmm. This sets up a range trade.Below Wednesday's lows and HON is likely heading lower. Above Wednesday's highs -- remember, that's the prior session -- and HON is likely heading higher. At least, until it runs into potential downtrend resistance (blue line). Top Stock Trades for Tomorrow 3: Philip Morris Click to EnlargePhilip Morris (NYSE:PM) stock erupted 9% after better-than-expected earnings results. The move on the weekly chart thrust the stock above a key downtrend level, as well as the $87 mark. As long as PM holds above $87, bulls can justify a long position. Below it and we'll need to see the 200-week moving average hold as support. On the upside, let's see if PM can push through Thursday's highs and $90. Top Stock Trades for Tomorrow 4: Morgan Stanley Click to EnlargeMorgan Stanley (NYSE:MS) caught a slight lift after reporting second-quarter earnings. The stock continues to put in a series of higher lows and is maintaining above all of its major moving averages. However, it's having trouble pushing through resistance between $44 and $45. Like most major bank stocks, resistance continues to keep these names in check. Over $45 and a move to $46.50 is possible. Above that and $49 is doable. On a pullback, see that $43 holds as support. Below is concerning. Top Stock Trades for Tomorrow 5: Bank of America Click to EnlargeAnother example of a bank stock struggling to breakout? Bank of America (NYSE:BAC).The stock flirted with a breakout over $29.50 on Wednesday after beating on earnings expectations. However, the stock gave up most of its gains going into the close before holding short-term support at $29. BAC stock is stuck in a very tight range between $29 and $29.50. However, it's got plenty of bullish catalysts working in its favor, including earnings growth, revenue growth and a continually rising dividend and buyback. Its valuation continues to drop, too. * 7 Stocks Top Investors Are Buying Now If it can push through $29.50, it could trigger a breakout, first to $30 and possibly up toward $30.75. A move below the 21-day moving average and $29 is concerning.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks Top Investors Are Buying Now * The 10 Best Cryptocurrencies to Keep on Your Radar * 7 Marijuana Penny Stocks That Could Triple (But You Won't Make Money) The post 5 Top Stock Trades for Friday: IBM, HON, PM, MS, BAC appeared first on InvestorPlace.
A 2014 FAA study revealed that some cockpit screens on Boeing 737 and 777 jets are vulnerable to interference from WiFi, cell phone signals or even weather radar. Bloombergreported today that while many have been replaced, some jets still contain the outdated models built by Honeywell International, Inc. The manufacturer is pushing back on Bloomberg's estimate that "potentially hundreds of aircraft worldwide are flying with the unsafe systems." In a statement, Honeywell spokesman Nina Krauss said the problem may impact 70 or fewer jets, and there's no evidence that the airplanes are operational.
The multinational conglomerate reported net income of $1.5 billion, or $2.13 per diluted share, on revenue totaling $9.2 billion in the second quarter.
Honeywell earnings for the second quarter of 2019 have HON stock flying high on Thursday.Source: Shutterstock Honeywell (NYSE:HON) starts off its earnings report by increasing its guidance for the full year of 2019. This has the company bringing its earnings per share range up to $7.95 and $8.15. The previous earnings per share outlook for the year was between $7.90 and $8.15. Wall Street is looking for earnings per share of $8.10 for the full year of 2019.The Honeywell earnings release also has it increasing its revenue range for the full year of 2019. This new range is between $36.70 billion and $37.20 billion. The old range was from $36.50 billion and $37.20 billion. Analysts are estimating revenue of $37.17 billion for 2019.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSome results from the Honeywell earnings report for the second quarter of 2019 were also good news for HON stock. This includes earnings per share of $2.10. The company's earnings per share from the same time last year was $1.93. Wall Street was expecting earnings per share of $2.08 for the quarter. * 7 Stocks Top Investors Are Buying Now While not the best for HON stock, Honeywell earnings for the second quarter of 2019 also includes revenue of $9.24 billion. This is a drop from the consumer products, engineering and aerospace company's revenue of $10.92 billion from the second quarter of 2018. It also didn't meet analysts revenue estimate of $9.35 billion for the period, but that wasn't keeping HON stock down today.HON stock was up 1% as of Thursday afternoon and is up 27% since the start of the year. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks Top Investors Are Buying Now * The 10 Best Cryptocurrencies to Keep on Your Radar * 7 Marijuana Penny Stocks That Could Triple (But You Won't Make Money) As of this writing, William White did not hold a position in any of the aforementioned securities.The post Honeywell Earnings: HON Stock Pops on Raised Guidance appeared first on InvestorPlace.
The industrial conglomerate (ticker: HON) reported second-quarter earnings of $2.10 a share and $9.2 billion in sales. Earnings per share beat Wall Street predictions by about 2 cents. Management now expects to earn roughly $8.05 a share in 2019, although Wall Street believes the company can earn $8.11, meaning analysts are still a little more optimistic than management.
General Electric is making major changes after a brutal couple of years. Here is what the fundamentals and technical analysis say about buying GE stock now.
UnitedHealth, Honeywell, Wayfair, AT&T, Microsoft and Impossible Foods are the companies to watch.
Honeywell International reported better than expected earnings numbers today and the stock is higher, but the charts and indicators suggest we could see weakness in the weeks ahead. In this daily bar chart of HON, below, we can see signs of weakness and bearish divergences. In the lower panel is the 12-day price momentum study or indicator which shows lower highs from late April to June to now.
Danaher's (DHR) second-quarter 2019 results benefit from growth in organic sales, acquired assets and DBS initiatives. Furthermore, the company raises its projection for the current year.
Impressive traction of long-cycle businesses in defense, commercial aerospace, process automation and building technologies drives Honeywell's (HON) Q2 results.
(Bloomberg Opinion) -- Even investor darling Honeywell International Inc. isn’t immune to the slowdown taking place in manufacturing.The maker of jet engines and air-conditioner controls reported second-quarter earnings on Thursday that beat analysts’ estimates, but sales in the period were weaker than expected, both including and excluding the impact of M&A and currency swings. The 5% organic revenue growth Honeywell notched in the second quarter was a step down from both the year-earlier period and the aggressive 8% pace set in the first quarter. While the company raised its 2019 organic sales growth target to a range of 4% from 6%, its third-quarter forecast for 2% to 4% expansion was weaker than RBC analyst Deane Dray had been expecting. An increased full-year earnings outlook was also less robust than analysts had been anticipating.Don’t get me wrong: this was still a very strong earnings performance from Honeywell. The company’s aerospace division remains a standout, with 11% organic growth in the period. Notably, Honeywell had double-digit growth in new equipment for business jets. That’s an interesting contrast to the weak aviation revenue and $100 million slide in backlog at Textron Inc. in the second quarter, which the company blamed on business-jet customers becoming jittery about macroeconomic conditions. And Honeywell does have a habit of under-promising on guidance so that it can over-deliver down the road.But this feels different than merely keeping the bar low and beatable. There's good reason to be cautious in this environment. Honeywell cited uncertainty in markets with shorter sales cycles, inventory pile-ups in some sectors and macro-economic concerns including tariffs and Brexit, and it appears to already be digging around in its toolkit for ways to weather a downturn. Concerns that cooling demand is becoming more marked than investors had appreciated took on a new gravity this week after East Coast railroad CSX Corp. reversed its call for sales growth this year and predicted as much as a 2% decline instead. Honeywell’s showing wasn’t nearly strong enough to buck the general feeling of unease.In other earnings news, Dover Corp. also reported second-quarter results on Thursday and followed a pattern similar to Honeywell: earnings per share beat analysts’ estimates and the company raised its full-year guidance, but overall sales in the period were a disappointment and Dover left its revenue outlook unchanged. This pattern of earnings beat/sales miss adds some early credence to industrial companies’ contention that years of cost-cuts and spin-offs have put them in a better position to weather an economic downturn. Dover last year spun off its Apergy Corp. energy business, while Honeywell carved its turbochargers and consumer-facing home technologies businesses into separate companies. In its earnings presentation, Honeywell said its relatively unburdened balance sheet and improved access to overseas cash after the U.S. tax overhaul give it other levers it can pull should a slowdown materialize. In other words, it’s waving the white flag of share buybacks.I’m not entirely convinced that all these breakups have made industrial companies recession-proof. Yes, they’ve become less cyclical, but that has risks as well. Either way, without sales, you can’t have profit. Gordon Haskett analyst John Inch has warned margin deterioration could be an underappreciated risk in the event of a mild industrial downturn. The severity of the 2008 financial crisis meant that few companies cut their prices because there was such low demand it wouldn’t have made much of a difference, he writes. But in a more moderate slowdown, industrial companies are more apt to use price cuts to drive sales, undermining their margins in the process. Honeywell is still likely one of the safest places for investors to ride out a slowdown. But before the gloomy CSX report dragged down the whole industrial sector, Honeywell was enjoying its best start to the year since 2007. The run-up in its shares leaves the company priced for perfection – and investors priced for disappointment should that perfection prove out of reach.To contact the author of this story: Brooke Sutherland at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Shares of Honeywell International Inc. rose 0.8% in premarket trading Thursday after the industrial conglomerate reported a second-quarter profit that topped expectations while sales fell shy, and lifted the low end of its full-year guidance ranges. Net income rose to $1.56 billion, or $2.10 a share, from $1.28 billion, or $1.68 a share, in the year-ago period. Adjusted earnings per share rose to $2.10 from $1.93, above the FactSet consensus of $2.08. Sales fell 15% to $9.24 billion, citing the impact of spinoffs, and missed the FactSet consensus of $9.35 billion, as aerospace sales fell less than expected, building technologies and performance materials and technologies sales were roughly in line with expectations and safety and productivity solutions sales fell more than expected. For 2019, Honeywell lifted the low end of its guidance ranges for EPS to $7.95 to $8.15 from $7.90 to $8.15, for sales to $36.7 billion to $37.2 billion from $36.5 billion to $37.2 billion and for adjusted free cash flow to $5.7 billion to $6.0 billion from $5.5 billion to $6.0 billion. The stock has rallied 27.6% year to date through Wednesday, while the Dow Jones Industrial Average has gained 16.7%.
Potentially hundreds of Boeing 737 and 777 planes worldwide are flying with unsafe systems vulnerable to passenger cellphones, Bloomberg News reported, citing a 2014 Federal Aviation Administration safety bulletin. The display units vulnerable to interference were made by Honeywell International , which says it is only aware of one case where all six display units in a 737 went blank, which was caused by a software problem that has been fixed and been flight tested. Boeing found the interference only in a lab test in 2012, the report said.
Honeywell posted stronger-than-expected second quarter earnings Thursday, and boosted its full-year profit guidance, as it aerospace division recorded double-digit sales growth thanks to strength in its U.S. and international defense and space business.
Investing.com - Honeywell (NYSE:HON) raised its full-year outlook for profits and organic sales growth on Thursday, after reporting second-quarter earnings that beat analysts' expectations.