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Jim Cramer Dumps Honeywell Aerospace (HONA) After Shock Guidance Cut Triggers Sharp Selloff
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Yahoo Finance
During the August 6 episode of Mad Money, a caller asked host Jim Cramer about Honeywell Aerospace Inc. (NASDAQ:HONA) following a steep, near 28% collapse in the stock between August 4 and August 6.
Honeywell Aerospace Inc. (NASDAQ:HONA) watched its shares implode after management slashed its full-year outlook following the second-quarter results.
Organic growth guidance was reduced to a range of 4% to 5%, compared to previous guidance of 7% to 9%.
Pro forma standalone adjusted EBIT was lowered to a range of $4.35 billion to $4.45 billion, down from earlier projections of $4.65 billion to $4.75 billion.
For the second quarter, Honeywell Aerospace Inc. (NASDAQ:HONA) posted revenue of $4.52 billion, representing a 5% year-over-year increase.