Honeywell International Inc. reported first quarter earnings that surpassed expectations. The conglomerate narrowed the range of its full-year profit forecast. Honeywell’s adjusted earnings for the three months ending in March came in at $1.91 per share exceeding the Street expectations of $1.86 per share. Revenues fell -0.6% to $8.4 billion, compared to analysts' estimate of $8.3 billion...

Honeywell International Inc. reported its fourth-quarter earnings that beat expectations. However, the guidance offered by the conglomerate was weaker than expected. The company's earnings came in at $2.09 a share, compared to analysts’ expectations of $2.08 a share. Revenue was $8.66 billion compared to the Street estimates of $8.73 billion. The company said it was "an extremely challenging...

3M posted fourth-quarter earnings of $2.31 per share, beating analysts’ expectations of $2.02 (based on Investing.com poll). Revenue came in at $8.61 billion, vs. analysts’ estimate of $8.6 billion. The company’s free cash flow of $1.5 billion was also ahead of the $1.3 billion expected by the Street. However, operating profit margins in the fourth quarter narrowed to 18.8%, from 21.5% in the...

DeBlase hiked her price target to $244 from $222 per share.

According to DeBlase, despite Honeywell's solid metrics and other factors, the stock has been the worst performer in the multi-industry, electrical equipment and machinery (MI/EE) group year-to-date, after only showing average performance in 2020.DeBlase  views this as a “rare opportunity” to upgrade rating on the stock, particularly as the bank now expects 5% and 10% upside to consensus EPS forecasts for 2021 and 2022, among the most attractive in the MI/EE group.

  Sales increased +8% from a year earlier to $19.6 billion, and slightly above the Street estimate of $19.4 billion. Looking ahead, United Technologies  projects sales to decelerate into the “low single digits” compared to 2019.The suspension of 737 MAX production is expected to cause headwind of $550 million to $600 million. By the end of next month, EU antitrust enforcers will rule on $121 billion proposed merger between United Technologies and U.S. contractor Raytheon.  

The figure was also -15.6% lower than the year-ago level. Revenue fell -1.9% year-over-year to $8.1 billion in the quarter, in line with analysts' estimates.  Industrial and safety sales declined -4.8% from the same quarter a year ago; and transportation and electronics revenues fell - 6.2% year-over-year for the quarter.But health care revenues surged + 25.4% Looking ahead, 3M expects full-year 2020 organic, local-currency sales growth to be in the range of flat to +2%, and reported earnings of between $9.30 and $9.75 per share.

Brookfield Business Partners LP announce that  it has agreed to buy majority stake in mortgage insurer Genworth MI Canada in a $2.1 billion deal.  As part of the deal, Brookfield Business Partners will acquire 48.9 million shares - representing 57% interest - in Genworth MI Canada from Genworth Financial, for $48.86 a share. The deal is expected to close by the end of 2019, subject to approval under the Insurance Companies Act (Canada) and Competition Act (Canada). Brookfield Business Partners also has promised to provide Genworth Financial, Inc., with up to USD$850 million in bridge financing, in the event that regulatory approvals for the transaction are not received by October 31, 2019. Goldman Sachs & Co. LLC and Lazard Frères & Co. LLC are acting as financial advisors to Genworth.  Osler, Hoskin & Harcourt LLP and Sullivan & Cromwell LLP are acting as legal advisors to Genworth and Richards,

3M Co. reported second quarter earnings that beat analysts’ expectations.The company also affirmed its full-year profit guidance. The industrial conglomerate’s adjusted earnings for three months ending June came in at $2.20 per share, which is higher than the Street consensus estimate of $2.04 per share. The company’s total revenue fell -2.6% from last year to $8.2 billion, but exceeded analysts' expectations of an $8.02 billion. In April, 3M decided to slash 2,000 jobs, as weakening demand in automotive and electronics sectors in China apparently propelled the company to cut production. Looking ahead, 3M projects its full-year adjusted earnings in the range of $9.25 to $9.75 per share, thereby maintaining its prior forecast. GAAP earnings, however, are expected by the company to be in the range of $8.25 to $8.75 per share, down from a prior projection of $8.53 to $9.03 per share, due  to a 28 cent charge related to the de-consolidation of its Venezuelan subsidiary.

The company also raised its full-year guidance. The aircraft manufacturing company reported adjusted second-quarter earnings of $2.20 a share, compared to analysts estimate of $2.05 a share (based on FactSet poll). Sales of $19.63 billion also came in higher than analysts' estimates of $19.55 billion.The figure was also significantly greater than the year-ago quarter’s $16.71 billion. Looking ahead, United Technologies predicts that its full-year adjusted earnings per share would come in between $7.90 and $8.05, up from a prior forecasted range of $7.80 to $8.00.

3M Co. shares got a rating downgrade by RBC Capital Markets. RBC Capital Markets analyst Deane Dray lowered his rating on 3M to sector perform, from a prior rating of outperform.He also slashed his price target on the stock by 15% to $176 per share. According to Dray, 3M’s reputation of a "defensive, high-quality industrial" is getting eroded. 3M's first quarter earnings had declined -10.8% year-over-year, and its total revenue had fallen -5%.

The case for buying stock in United Technologies (NYSE: UTX) has long been built on the idea that the value of the sum of its parts is greater than what they trade on as part of an industrial conglomerate.But the separate businesses still need to perform well in the run-up to the spin-offs, so let's take a look at current progress before judging whether the stock is a good value or not. Read More...

Stocks rose to close out their best January in three decades as strong earnings and a Federal Reserve indicating it will pause rate hikes caused investors to rush back into the market following a vicious December sell-off. Read More...

Late Monday, United Technologies announced its plans to segregate itself into three companies: 1) United Technologies, which will focus on aerospace and defense industry supplier businesses, 2) Carrier, which comprises its refrigeration, air conditioning and building systems business and 3) Otis, which makes  elevators, escalators and moving walkways. United Technologies got the final regulatory nod for its $23 billion acquisition of aviation electronics manufacturing company Rockwell Collins on Friday.After the acquisition, Rockwell combined with UTC Aerospace Systems will make up Collins Aerospace Systems – which will be part of the United Technologies company after the split. "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 CEO Gregory Hayes.

This happened for the first time for the conglomerate since 2009’s global recession. From being the most valuable company – worth  $400 billion - in the S&P 500 in 2004, GE is now struggling with cratering share prices amidst the company’s profit declines and massive debt.It even got eliminated from the Dow Jones Industrial Average Index earlier this year, after having been part of it for around 110 years. In an attempt to pay off its debts, GE is selling off several of its businesses including its railroad division, Thomas Edison's light-bulb unit, Baker Hughes and the MRI-machine making health-care unit. What’s more, GE Power is mired in troubles with its gas turbines failures and related plant shutdowns.