ADVFN - Advanced Financial Network.
HOME» NYSE » H » HON Stock Price » HON Stock News

Honeywell Share News

 Honeywell International, Inc. Stock Price
HON Stock Price
 Honeywell International, Inc. Stock Chart
HON Stock Chart
 Honeywell International, Inc. Stock News
HON Stock News
 Honeywell International, Inc. Company Information
HON Company Information
 Honeywell International, Inc. Stock Trades
HON Stock Trades

Sunoco Swings To 2Q Loss On Write-Down As Refining Operations Weaken

DOW JONES NEWSWIRES Sunoco Inc. (SUN) swung to a second-quarter loss amid weak refining revenue and a large write-down from the sale of its Philadelphia chemicals plant. Shares still rose 2.5% to $36.80 after-hours after the company reported much better-than-expected revenue. The stock was off 11% this year through Thursday's broad sell-off. Most U.S. refiners have posted improving earnings this year as a widening price spread between two types of crude oil helps boost industry margins. Sunoco missed out on the windfall in the first quarter, however, after widespread refinery outages. Sunoco in July closed the sale of its phenol and acetone manufacturing plant in Philadelphia to an affiliate of Honeywell International Inc. (HON), forcing the company to set aside $118 million to write down the facility's assets. The independent refiner also finished its spinoff of SunCoke Energy, the biggest independent producer of a raw material for steelmaking. Fitch Ratings and Standard & Poor's Ratings Services both pushed Sunoco's credit ratings into junk territory after the split, saying the spinoff removed one of the company's more stable segments. Sunoco posted a loss of $125 million, or $1.03 a share, compared with a prior-year profit of $145 million, or $1.20 a share. Excluding the write-down provision and other items, the company posted a 40-cent profit, down from last year's $1.31 a share. Revenue rose 25% to $12.02 billion. Analysts polled by Thomson Reuters expected a 47-cent per-share profit and revenue of $8.75 billion. Sunoco's core refining and supply business swung to a loss in the latest quarter on lower realized margins and decreased production volumes, though the unit's crude utilization rate climbed to 84% from 74%. Earnings in Sunoco's retail business fell 5.5% absent a favorable litigation settlement from last year as higher credit-card fees hurt profit. Earnings jumped 80% in the logistics business on expanded crude oil volumes and revenue from recent acquisitions. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909;

Stock News for Honeywell (HON)
11/25/201514:50:00Hazardous Airliner Landings Are Rare, Data Show, but Pilot Reporting...
11/25/201514:25:00Hazardous Airliner Landings Are Rare, Data Show, but Pilot Reporting...
11/24/201509:00:00Chinese Refiners Looking For More Product Out Of The "Bottom...
11/24/201506:10:55Statement of Changes in Beneficial Ownership (4)
11/19/201516:07:42Statement of Changes in Beneficial Ownership (4)
11/19/201513:45:03Is Jeff Immelt Turning GE Into Honeywell?
11/18/201510:07:00NASA Identifies Honeywell's Solstice® Performance Fluid As Replacement...
11/18/201509:00:00Fast-To-Market Technology From Honeywell UOP Helping Meet Growing...
11/17/201509:00:00Honeywell To Automate Finland's First Liquefied Natural Gas Import...
11/16/201518:30:00Honeywell Engines And Electronics To Power Cessna's New Citation...
11/16/201509:00:00Honeywell And NASA Bring Hip-Hop Science Series To North Carolina...
11/16/201507:00:00Honeywell Strengthens In-Flight Internet, Airtime Connectivity...
11/15/201520:00:00Honeywell's Business Aviation Forecast Sees Up To 9,200 Deliveries...
11/12/201516:12:15Statement of Changes in Beneficial Ownership (4)
11/12/201516:10:52Statement of Changes in Beneficial Ownership (4)
11/11/201509:00:00Honeywell Signs Engine Contract With Marenco Swisshelicopter
11/10/201509:00:00Honeywell Brings Nobel Laureate Eric Cornell To Universitatea...
11/10/201509:00:00Honeywell, Airbus Deliver Real-Time Weather Information Service...
11/09/201516:04:56Statement of Changes in Beneficial Ownership (4)
11/09/201516:03:11Statement of Changes in Beneficial Ownership (4)

Honeywell and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations