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.
Other Stocks Sliding Lower
Honeywell wasn't alone in the pre-market selloff. Here are some other notable movers heading south:
- DBV Technologies S.A. (DBVT) dipped 8.3% to $20.88 in pre-market trading after gaining more than 5% on Friday.
- CureVac N.V. (CVAC) dipped 3.6% to $4.01 in pre-market trading after declining 3% on Friday.
- CapsoVision Inc (CV) fell 3.4% to $12.78 in pre-market trading after surging 25% on Friday.
- Regencell Bioscience Holdings Limited (RGC) fell 3% to $19.25 in pre-market trading after gaining 5% on Friday.
- Alumis Inc (ALMS) fell 2.5% to $11.01 in pre-market trading.
- Infosys Ltd (INFY) fell 2.1% to $19.79 in pre-market trading after adding 5% on Friday.
- Intuitive Machines Inc (LUNR) fell 2% to $14.65 in pre-market trading. On Friday, Keybanc analyst Michael Leshock initiated coverage on Intuitive Machines with an Overweight rating and announced a price target of $20.
- Fresh Del Monte Produce Inc (FDP) slipped 1.5% to $36.98 in pre-market trading after declining 3% on Friday.