U.S. stock futures pointed higher Monday morning, with the Nasdaq 100 futures gaining around 100 points. But not every stock was joining the party.
Shares of Honeywell International Inc. (HON) took a notable hit in pre-market trading after the company delivered a double dose of bad news. The industrial conglomerate confirmed it will discontinue its Advanced Materials business unit and simultaneously slashed its full-year guidance across the board.
The numbers tell a stark story. Honeywell lowered its FY2025 adjusted EPS guidance from $10.60-$10.70 down to $9.70-$9.80. That's a dollar-per-share haircut. Revenue expectations got whacked even harder, dropping from $40.700 billion-$40.900 billion to $37.500 billion-$37.700 billion. That's roughly $3 billion in anticipated sales evaporating from the forecast.
Honeywell International shares declined 2.1% to $195.00 in pre-market trading.
