Shares of industrial and transportation companies rose ahead of earnings in the sector.
Corporate outlooks and Wall Street earnings targets have remained resilient despite the spike in energy prices in March, said one strategist.
"Despite the uncertainty, despite what looks to be potentially dire consequences out of the Middle East, it currently doesn't seem to be affecting earnings," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
Brady Corp., which makes identity badges and other specialized tags, agreed to acquire manufacturing conglomerate Honeywell International's productivity solutions and services business for $1.4 billion.
Honeywell International Inc. specializes in the manufacturing and marketing of industrial equipment. The group also offers maintenance, technical assistance and engineering services. Net sales break down by family of products as follows:
- aeronautical equipment (46.8%): engines, navigation hardware and software, propulsion and communication systems, satellite and space components, lighting equipment, wheels, etc. The group also offers turbochargers for motor vehicles;
- performance materials and technologies (25.1%): polymers, fibers, resins, acids, additives, catalysts, sorbents, semiconductor packaging materials, coating materials, etc.;
- building automation and control systems (19.7%): heating and ventilation control systems, fire alarms, thermostats, monitoring systems, etc.;
- security and productivity optimization solutions (8.4%): personal safety equipment, warning systems, gas detection systems, data collection and thermal printing computer solutions, warehouse and supply chain automation systems, data and production process management solutions, etc.
Net sales are distributed geographically as follows: the United States (58.2%), Europe (21.7%) and other (20.1%).
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ESG MSCI
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