Honeywell International Inc. (NYSE: HON) reported its financial results for the quarter ended March 31, 2020 today. The bottom-line came in above the analysts’ expectations while the top line missed consensus estimates.
Honeywell posted a 12% jump in earnings for the first quarter of 2020 helped by lower costs and expenses despite a 5% decline in the top-line. The softness in the building solutions projects and volume declines in security and building management products hurt Honeywell Building Technologies.
The company’s Performance Materials and Technologies and Safety and Productivity Solutions segments showed declines in sales for the quarter. However, the Aerospace segment showed a marginal rise backed by continued strength in the Defense and Space business and growth in air transport commercial aftermarket.
Due to the evolving nature of the COVID-19 pandemic and related supply chain and market disruptions, Honeywell said it has temporarily suspended its full-year guidance until the economic impact of coronavirus stabilizes. The company expects ongoing top-line challenges due to the current market conditions, particularly in the aerospace and oil and gas sectors.
The recent optimism about economic recovery waned slightly this week after jobless claims increased more-than-expected to about 778,000 amid concerns over a resurgence in coronavirus cases. With the healthcare system
Yunji Inc. (NASDAQ: YJ) Q3 2020 earnings call dated Nov. 26, 2020 Corporate Participants: Kaye Liu -- Investor Relations Director Shanglue Xiao -- Chairman of the Board of Directors and Chief Executive Officer Chen
Amazon Web Services (AWS), a leading cloud computing platform, went down in the morning hours of Wednesday. Many applications – including Anchor, Adobe Spark, Flickr, SiriusXM and Roku reported disruption