Honeywell’s stock set for selloff after downbeat sales outlook
Shares of Honeywell International Inc. HON, -0.15% were indicated down nearly 9% in premarket trade Friday, after the diversified technology and manufacturing company provided a downbeat outlook for 2017. The company affirmed its fourth-quarter 2016 earnings-per-share outlook of $1.74, but that was below the FactSet consensus of $1.75. For 2017, Honeywell expects EPS of $6.85 to $7.10, compared with the FactSet consensus of $7.08. Revenue is expected to decline 1% to 2% from this year, while the current FactSet consensus of $39.92 billion implies 1% growth over the 2016 consensus of $39.51 billion. The stock has rallied 13% year to date through Thursday, while the S&P 500 SPX, +0.39% has gained 11%.
European Stocks Drift Lower Dollar Dominates Global Financial Markets
European opened mixed Friday following an overnight session in Asia where the U.S. dollar once again dominated trading in global financial markets.
Read moreUS Dollar Soars, Trading to a Fourteen Year High
Yesterday’s statements made by the Federal Reserve are just beginning to be processed by traders and investors. The immediate knee-jerk reaction and response has now dissipated.
Gold Down 3%, Silver Prices Down 7% As Markets Digest Hawkish Fed
(Kitco News) – The gold market is off its lows but remains on the ropes after Wednesday’s surprise forecast that shows the Federal Reserve could potentially raise interest rates three times in 2017.
Gold Careens To 10-Mo. Low On U.S. Dollar Strength
Gold prices were ending the U.S. day session sharply lower and fell to another 10-month low Thursday.
Read moreBeware: Did Trump’s Animal Spirits Also Wake Up The Bear?
December 15 – The “animal spirits” that renowned economist John Maynard Keynes referred to in his 1936 book have finally emerged from the dead.
VanEck’s Foster: ‘Our Conviction For A Strong Gold Market Remains’
Hard-asset specialist company VanEck retains a longer-term upbeat view on gold, suggesting in a report Thursday that markets collectively have gone into “fantasy mode” since Nov. 8 U.S. elections.
Silver Institute: PV, EO Silver Use To Rise Sharply By 2020
The use of silver for photovoltaic cells and ethylene oxide will rise by roughly one-third from 2015 to 2020, according to a report issued Thursday by the Silver Institute.
Read moreLundin Gold Signs ‘Exploitation Agreement’ for Fruta Del Norte
Lundin Gold Inc. (TSX: LUG) reports that it has signed an “exploitation agreement” that gives the company the right to develop and produce gold from Fruta del Norte, the company’s flagship gold project in Ecuador.
Vote Now In The Kitco Weekly Gold Survey
(Kitco News) – Where do you think gold prices are going next week? Vote now in the Kitco News Wall Street vs Main Street weekly gold survey.
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