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00:02Honeywell Aerospace shares closed down 0.4% Monday after the company made its NASDAQ debut
00:09following its spinoff from Honeywell, according to Reuters.
00:12Shares opened higher and gained as much as 7% before falling to $220.19 on volume of about
00:218.5 million shares. The debut came amid strong investor appetite for aerospace and defense
00:27assets, driven by pent-up demand and rising military spending. CEO Jim Currier said the
00:33spinoff will help Honeywell Aerospace move faster as Boeing and Airbus ramp production.
00:38The company expects $6.5 billion in adjusted earnings by 2030. It also expects sales growth
00:46of 7% to 9% this year and free cash flow of $1 billion to $1.5 billion. Honeywell
00:52plans to split
00:53three standalone companies focused on automation, aerospace, and advanced materials by the end
00:59of this year.
00:59For all things money, visit Benzinga.com.
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