Hon stock down almost 5% in after hours trading:
http://www.nasdaq.com/symbol/hon/after-hours
6 replies (most recent on top)
think what's basically happening is that Dave is doing anything and everything he can to keep the shareholder's happy until he leaves in the spring, which is why he's just gutting the business. So, from a shareholder point of view, when he leaves it will appear like, overall, he did a pretty good job. His successor though, will be left with a mess he will likely never be able to clean up, and Honeywell's stock will plummet and crash hard. This has been a long time coming, ever since they moved engineering to India and China.
In any case, I work in Canada and, if they let me go, I'll have a year's worth of salary continuance coming to me. The way this company is run (at least in HBS) there's no way that they can improve their bottom line without cutting more staff, so I've got my fingers crossed for the new year.
Continues to fall. -8.62%
Of course wall street doesn't care about WFH. But they will care when hons earnings takes a dive because no one goes a Fvck anymore.
Wallstreet doesn't give two squirts of piss about work from home arrangements. They don't give a sh-- about employee satisfaction or happiness. They care about earnings per share, which HON just lowered guidance 15%.
HON is evil because their 401k match comes in the form of HON stock, not matched contributions to your desired asset allocation. Having a significant portion of your retirement tied up in a single investment is risky, but again HON doesn't care about you, your health, or your future
Just wait till tomorrow's news of no more working from home. The morale is gonna drop like a f---ing stone.
Honeywell expects 2016 earnings per share of $6.60-$6.64, down from its previous forecast of $6.60-$6.70. Doesn't seem like a great reason for a free fall, but overreactions are what Wall Street does best, I suppose.