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Honeywell Drastically Cuts Its Profit Forecast.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, December, 2000
Dec. 12--Manufacturing giant Honeywell last night said it expects fourth-quarter earnings per share to fall well below current analyst expectations.
The Morris Township company said its fourth-quarter profits were hurt by factors related to its pending acquisition by General Electric and problems at a joint venture with Union Carbide.
Honeywell placed its fourth- quarter earnings from ongoing operations at between 70 cents and 74 cents a share. Analysts surveyed by First Call/Thomson Financial had expected the company to earn 86 cents per share.
Honeywell said its earnings estimate does not include anticipated pretax charges of between $375 million and $425 million related to unidentified asset impairments and environmental liabilities....
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