General Electric (GE) reported earnings on Friday, beating both top and bottom line estimates. The most impressive part of the report was the 14% sales increase in the comapmy's industrial business, which makes up 64% of General Electric's revenue base. This segment also had a record backlog of orders of more than $23 billion.
Honeywell (HON) also reported earnings on Friday. Like General Electric, it beat estimates. Honeywell came in at $1.04 per share, well above the $0.96 cents to $0.98 it recently guided analysts to last month. Honeywell also said that rebounding U.S. demand offset weakness in Europe. The company raised its guidance for the full year. CEO David Cote also sounded very upbeat Friday night on CNBC's "Mad Money."...431 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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