Diamonds and Dogs
Honeywell (HON) smelling like roses. The aerospace industrial is up 3% to a new 52 week high following better than expected earnings. Revenues actually fell 0.3% year over year to $9.49 billion. Management said their diversified portfolio, coupled with the investments they made over the past several years, drove their excellent performance in the first quarter.
Mattel (MAT) misses earnings and sales estimates once again. The toy maker known for such brands as Barbie, Hot Wheels and Fisher-Price is down 11% today and down 35% in the last six months. The company blamed the weak results on a retail inventory overhang coming out of the holiday period. One analyst said the sentiment for Mattel will likely remain negative as management credibility will take another hit. There is also the chance of a dividend cut in the foreseeable future.
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