MARKET TALK: Moody's Drops Outlook On Diversified Manufacturers

Date : 08/16/2011 @ 1:48PM
Source : Dow Jones News
Stock : Honeywell International Inc. (HON)
Quote : 130.1  0.0 (0.00%) @ 8:48AM

MARKET TALK: Moody's Drops Outlook On Diversified Manufacturers

Honeywell (NYSE:HON)
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1:18 (Dow Jones) Moody's throws cold water on diversified manufacturers in North America, dropping its outlook for the sector's credit condition to stable to from positive amid expected weakening in economic conditions over the next 12-18 months. Firm expects the sector's pretax operating income to be growing by less than 3% by the end of next year after notching 15% income growth the past 12 months. Expects revenue growth to be equally sluggish by mid-2012. While companies have acknowledged that profit and revenue growth are moderating as the recovery from 2008 recession matures, most haven't warned that performance is about to fall off a cliff. (robert.tita@dowjones.com)

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