• Thu, Jan. 19, 7:34 PM
    • Honeywell (NYSE:HON) has filed suit against bar-code reader maker Code Corp., alleging "widespread patent infringement."
    • Patents involved cover Honeywell innovations that make bar code readers easier, faster and more accurate in usage, the company says.
    • The suit names six patents, for such innovations as an autodiscriminating optical reader and a battery pack with capacity and pre-removal indicators, as well as an optical assembly for the scanner.
    • Honeywell, which says it pioneered the bar code scanning market in the 1970s, says it has "zero tolerance for those who infringe our intellectual property."
    Thu, Jan. 19, 7:34 PM
  • Fri, Jan. 13, 11:54 AM
    • Pentair (PNR +2.1%) and Roper Technologies (ROP +0.9%) are upgraded to Overweight from Neutral at J.P. Morgan, which believes the stocks have not received as much as credit as other electrical equipment and multi-industry stocks for anticipated Trump-related benefits.
    • On PNR, given low expectations set in October and less stock appreciation due to an already low tax rate, the firm sees potential for relative upside to organic growth in a better economy and less downside in a sluggish/steady-state economy, all at an attractive discount.
    • JPM downgrades TriMas (TRS +0.7%) to Neutral from Overweight, citing valuation following the stock's outperformance over the last three months; the firm also reiterates Honeywell (HON +0.5%), Ingersoll-Rand (IR +1%) and Danaher (DHR +0.3%) at Overweight, and Rockwell Automation (ROK +0.8%) at Underweight while naming General Electric (GE -0.2%) a "top avoid," expecting core operating performance to track below plan driven by weak fundamentals.
    Fri, Jan. 13, 11:54 AM | 20 Comments
  • Dec. 28, 2016, 4:15 AM
    • The United States again ranked first in global weapons sales last year, signing deals for about $40B, although the total size of the worldwide arms bazaar dropped to around $80B in 2015 from $89B a year earlier.
    • The study, "Conventional Arms Transfers to Developing Nations, 2008-2015," was prepared by the nonpartisan Congressional Research Service, a division of the Library of Congress.
    • Related tickers: LMT, RTN, GD, NOC, OA, HII, HON, UTX, ITT, TXT, LLL, COL
    Dec. 28, 2016, 4:15 AM | 6 Comments
  • Dec. 23, 2016, 4:25 AM
    • "The United States must greatly strengthen and expand its nuclear capability until such time as the world comes to its senses regarding nukes," President-elect Donald Trump said in a tweet.
    • It wasn't clear what prompted the comment, but earlier yesterday, Vladimir Putin said Russia needed to "strengthen the military potential of strategic nuclear forces."
    • Related tickers: BW, HON, ACM, JEC, SAIC, URRE, OA, COL, LMT, BA, NOC, GD, AJRD, HII
    Dec. 23, 2016, 4:25 AM | 84 Comments
  • Dec. 21, 2016, 10:53 AM
    • Alfa Laval and Honeywell (HON -0.4%) are bidding for private equity-owned Swedish air treatment group Munters in a potential 10B Swedish crowns ($1.08B) deal, Reuters reports.
    • P-E firms such as TPG, Bain, KKR and EQT have also handed in first round bids by a mid-December deadline.
    • Lenders are working on debt financings of up to 5.5x Munters approximate EBITDA of 780M Swedish crowns ($84M) split between a mix of senior and subordinated leveraged loans.
    Dec. 21, 2016, 10:53 AM | 1 Comment
  • Dec. 16, 2016, 5:15 PM
    • Honeywell (NYSE:HON) shares recovered from their early morning swoon to finish at breakeven after a conference call in which company execs promised cost cuts and said demand should rebound in some markets, such as hand-held scanners and worker safety equipment, that suffered this year.
    • HON will “continue to simplify our footprint,” CFO Tom Szlosek said, in a sign the company could join GE and others in consolidating factories and possibly laying off workers.
    • COO Darius Adamczyk, who is set to succeed CEO Dave Cote in March, emphasized HON's push into software he believes can drive improvements in the efficiency and profitability of heavy machinery.
    • Adamczyk also said HON could benefit next year if oil prices continue to recover, which would aid the company’s petroleum-linked business lines, which include equipment and catalysts used in oil refining.
    • Shares fell early after the company forecast 2017 EPS of $6.85-$7.10, below analyst expectations.
    Dec. 16, 2016, 5:15 PM | 10 Comments
  • Dec. 16, 2016, 7:17 AM
    • Honeywell (NYSE:HON) -8.6% premarket after offering a tepid outlook, reaffirming Q4 EPS guidance of $1.74, at the low end of its earlier forecast of $1.74-$1.78 and below $1.75 analyst consensus estimate.
    • For FY 2017, HON sees EPS guidance of $6.85-$7.10 vs. $7.08 consensus, on a 1%-2% Y/Y revenue decline; the current sales consensus of $39.9B implies 1% growth over the 2016 consensus of $39.5B.
    • HON also anticipates 2017 organic sales growth of 1%-3%, segment margin expansion of 70-110 bps, and EPS growth of 6%-10%.
    Dec. 16, 2016, 7:17 AM | 24 Comments
  • Dec. 13, 2016, 6:56 PM
    • U.S.-based industrial companies such as Emerson Electric (NYSE:EMR), Fortive (NYSE:FTV), 3M (NYSE:MMM) and Danaher (NYSE:DHR) could enjoy sizable benefits from potential tax changes that could occur next year, as well as increased capital spending, Bernstein analyst Steven Winoker writes.
    • The potential EPS upside of U.S. tax reform should reach double digits for the four companies, while Eaton (NYSE:ETN) - already at a group-low ~10% global effective tax rate - should see only minimal upside, according to Winoker, who notes that tax deductibility of capex investment also would spark spending in the U.S.
    • Bernstein's covered companies derive between 10% (3M) and 60%-plus (Rockwell Automation (NYSE:ROK)) of revenues from customers’ capex spending, so the impact could be meaningful; the firm rates Allegion (NYSE:ALLE), DHR, Dover (NYSE:DOV), FTV, Honeywell (NYSE:HON), Ingersoll-Rand (NYSE:IR), Johnson Controls (NYSE:JCI) and Pentair (NYSE:PNR) at Outperform, with EMR, ETN, General Electric (NYSE:GE), Idex (NYSE:IEX), MMM and ROK at Market Perform.
    Dec. 13, 2016, 6:56 PM | 25 Comments
  • Dec. 12, 2016, 8:55 AM
    • Earlier this year, Honeywell (NYSE:HON) announced that COO Darius Adamczyk would be the successor to current CEO Dave Cote beginning on March 31, 2017.
    • Cote will continue as executive chairman until the company's annual shareowners meeting in April 2018.
    Dec. 12, 2016, 8:55 AM
  • Dec. 7, 2016, 3:40 PM
    • Honeywell (HON +3.1%) jumped early in the session, and has added to that advance since amid chatter of an activist stake - potentially Nelson Peltz's Trian.
    • Trian has declined to comment on the speculation, reports Bloomberg.
    Dec. 7, 2016, 3:40 PM | 13 Comments
  • Dec. 1, 2016, 4:00 AM
    • The EU plans to boost its defense budget to its highest level in over a decade, setting up a €5B fund and sending a signal to Donald Trump that it intends to pay for its own security.
    • "This is not about an EU army, this is not about spending on the military instead of social security," European Commission Vice President Jyrki Katainen said. "We face multiplying threats and we must act."
    • Related tickers: LMT, RTN, GD, NOC, OA, HII, HON, UTX, ITT, TXT, LLL, COL
    Dec. 1, 2016, 4:00 AM | 13 Comments
  • Nov. 30, 2016, 8:41 AM
    • Honeywell's (NYSE:HON) TALIN inertial land navigation technology has been selected for installation on the British Army's new AJAX armored fighting vehicles.
    • TALIN is a solution that can improve mission success in difficult terrain by providing users with a lightweight and highly accurate laser guidance system.
    Nov. 30, 2016, 8:41 AM
  • Nov. 20, 2016, 4:30 AM
    • "Given the outcome of the congressional election and learning more specifically who is (and isn’t) involved as space advisers, I anticipate a larger appetite for a change agenda and a better than expected potential to get at least some of their agenda accomplished," Lori Garver, former No.2 at NASA writes.
    • Expected areas of change: i) NASA’s bureaucracy/infrastructure is much too large and expensive. ii) NASA shouldn’t be spending so much money on Earth sciences. iii) The Moon is a better and more important destination than Mars. iv) Entrepreneurial space should play a larger role in all aspects of space. v) Space activities cut across international, civil, military and commercial arenas and should be run out of the White House, by a National Space Council, reporting to Vice President Pence.
    • She also takes a few parting shots at the departing administration: "NASA Administrator Charlie Bolden’s perceived lack of enthusiastic support of the White House agenda gave an opening to the opposition. Without a willingness to take on these special interests, the administration made a Faustian bargain to secure congressional support for Earth sciences, technology and commercial crew, in exchange for support of developing a large expendable rocket (the Space Launch System or SLS) and deep space capsule (Orion) for human spaceflight.  While these parochial interests still exist, a Trump White House has the opportunity to more effectively defend its own agenda."
    • Stocks potentially impacted: AVAV, B, BA, GLOB, HON, I, JEC, LMTOTCPK:MDDWF, MOG.A, OA, SAIC, SPACET
    Nov. 20, 2016, 4:30 AM | 34 Comments
  • Nov. 16, 2016, 2:34 AM
    • Honeywell (NYSE:HON) has agreed to supply avionics for a proposed supersonic jetliner - intended to carry only premium passengers - that could cruise 10% faster than the now extinct Concorde.
    • The demonstrator vehicle, called Baby Boom, is slated to take to the air in 2017.
    • If development goes as planned, the full-size version, including engines manufactured by General Electric (NYSE:GE), could start carrying passengers as early as next decade.
    Nov. 16, 2016, 2:34 AM | 18 Comments
  • Nov. 9, 2016, 5:34 AM
    • Donald Trump has called for eliminating the sequester on defense spending and initiating a military buildup, boosting troop levels and the number of ships and aircraft.
    • He seeks to fully offset the cost through "common sense reforms that eliminate government waste and budget gimmicks" and additional payments from countries where the U.S. has military bases, including Germany, Saudi Arabia and Japan.
    • Premarket movement: LMT +4.5%, RTN +1.7%, GD, BA, NOC, OA, HII, HON, UTX, OTCPK:EADSF, ITT, TXT, LLL, OTCPK:BAESY, OTCPK:FINMY, COL
    • #Election2016
    Nov. 9, 2016, 5:34 AM | 60 Comments
  • Oct. 31, 2016, 4:55 AM
    • Hawkers of civil and military aircraft - and the money to finance them - will try to drum up new business at aerospace expos this week, conscious their high-risk industry is approaching a turning point.
    • China's biggest aviation event - Airshow China - starts in Zhuhai tomorrow. A defense trade show will also take place in Jakarta and an air finance conference in Hong Kong, as well as the annual U.S. business jet jamboree in Orlando, Florida.
    • Among the U.S. exhibitors: AME, BA, ERJ, HON, HXL, LLL, LMT, SNA, TKR, TXT, UTX
    Oct. 31, 2016, 4:55 AM | 2 Comments