we speak with the ceo of honeywell. this is bloomberg. ♪ ♪ york, i amm new vonnie quinn and this is "bloomberg markets." the u.s. is back in full force after the holiday weekend. >> we are certainly back in full force. take a look at the s&p 500 and the nasdaq down fractionally. starting the week off with a small loss but well off the lows of the premarket suggesting. the shanghai composite had its worst day in a month, down 1.7%. the government may not continue into the second quarter. that is dragging on the emerging market index. there is some caution there out of china. where it seems very risk on, at least relative to the market, let's take a look at oil. we will see a big pop for oil, up a second day in a row. up to .6% after the u.s. -- 2.6 percent. thatis helping the idea supply could tighten. that is hoping the energy sector. let's take a look at the energy sector. is up 1.6%. also higher, kimberly-clark up 7%. the consumer saver company did beat sales for the first quarter. intuitive surgical is down 5.8%. the

i don't think they're as much on their front foot as honeywell. they already deployed their capital on the collins deal and this is a late-cycle business that turned slowly the last several years it's been all about the negatives of the gee turbo fan engine as well as margins and those are stabilizing and moving in the right direction. just like everything that always comes back to ge, i believe when people are looking at ge and ignoring the substantial negative cash flow at the power business, which i believe is somewhat structural and giving all of the credit in the world to their aviation business, which is currently earning a dramatically higher margin than what utx is earning in a very visible investment cycle, i see a significant disconnect there if you believe in ge's aerospace macrolonger term, i just don't see how you can look at the gear turbo fan investment they're making, $3 billion current cash drag currently that is very visible negatively and discount it forever that's been one of our favorite pairs while we went back to utv and utx

but then, honeywell. honeywell just hit a 52-week high >> i'm long goldman sachs. >> sorry >> yeah, i know. >> i'm just using that as the example of -- >> all-time winners inside a segment you may not think of overall. >> there's a psychological component. everyone thinks with investing if you find me a sector that's identified as, well, it's not as beautiful as technology is and then you find me a honeywell, i want to buy more as it's continuing to move higher. >> honeywell goes all-time high back to 63 >> i bought honeywell back in december a golden opportunity a phenomenal business. they spun off what they needed to they are diversified it's a great business. in the industrial space. i gave a name about six weeks ago, copart, cprt. steve, you know that one well. it's now trading 65. >> one observation worth pointing out is wall street doesn't do this anymore like lift a finger and say what sector for the next three months the way people invest now is much more frequently running quantitative screens an

today it is honeywell.we welcome gordon haskins, senior analyst with a buy rating on honeywell and a price target of $106. we talk about a global manufacturing market slowdown. what happened with honeywell? bigt: honeywell is a very company in automation. they are not really representative of the broader economy. they really beat this morning. it still implies a bit of a it is-half slowing, so not clear the economy is in a trajectory that is going to improve on these results, but overall the results were very good. aerospace was about 10% core growth. that repeats the core growth they had seen over the past year. that was much better than you would have expected. you would have expected a bit of a slowing naturally, and that really didn't occur. it is a defense company as well, so foreign governments are spending a lot in defense today, and that is coming through in the results. alix: is there a readthrough to other industrials? ohn: process industries like lng, other big chemical operations in asia come ar

all new management is coming in to salvage honeywell -- not salvage, but move honeywell forward, and us about the new guy at honeywell. karen: a lot will stay the same. he sticks to margins. he got things going to be a profitable country does company. growth.cused on he is looking for deals, cannot find them because they are really expensive, but he wants to buy. tom: organic revenue growth of 5.2%, a snapping number for a potato chip company, amazon with ginormous growth as well. karen: outside the u.s., the industrial is slowing. under that 3% would get people concerned. i think they will be in their range. they are usually the one that beats a little, it raises a little, so that is required because they have done that for a long time. the what is the exposure to 737 max program? karen: that will be a topic of discussion. they do some power and flight controls. aerospace is so robust i do not think it will be a problem, but it will be a discussion. no one has cut production. the suppliers are still not cutting, but how long cannot go on? guy: this is a long cycle business. in terms

let's start with the honeywell chairman and chief executive.e quinn asked if he is worried about an impending slowdown. ♪ >> no, not really. as you saw in the long and short cycle businesses, we had a very strong quarter. 40% long cycle oriented, so i'm very confident that short cycle has done extraordinarily well. if we don't see any signs of problems, we are planning cautiously for the second half. short cycle can turn very quickly. so far, so good. >> are pmi data missing something? >> there could be segments that continue to grow. all industrial companies aren't the same. we have a different mix between short and long cycles. we can't always compare that broad-based industrial indices. >> all four segments of honeywell seem to be doing well. what most concerns you for the rest of this year? cycle,ously the short particularly industrial solutions. we did see some level of d stocking, but we expect that to dissipate. we are still planning for q2. but we are planning on recovery in the second half of the year. we have a couple minor trouble sp

honeywell, sparking a flurry of activity mike ko is in san francisco with the action hi, mike. >> it's common to see elevated options going into earnings. sometimes it's less common to see them coming out of it and we saw 16 1/2 times the average call volume and most of that was opening and where we saw a lot of that activity was in the may 1, 75 calls and 13 of those trading at 40 sens and those are bullish bets that honeywell's rally will continue and it will go up at least another 4% over the course of the next month, and i would also point out when we look at activity like this we try to find trades that basically characterize the overall sense of the flow, but this day we saw significantly bullish activity in honeywell. it wasn't really a 50/50 shot in this case and definitely bullish activity looking for new highs >> guy, you like hon >> i'll miss it tomorrow and we've said for years and overlay the honeywell chart and you'll see one company that's doing everything correctly and another company that's doing everything incorrectly and the chart speaks for itself >> all right >> mi

. >>> honeywell posted stronger th expected sales in its first quarter.which range from thermostats to jet engines cited demand for it's aerospace the cfo says the company expects little impact from the 737 max production and honeywell also raised its full-year forecast. while it was at it the stock rose 4% today to 169.06. >> e trade topped first quarter ea estimates after posting solid revenue. the online brokerage company said a inc in new users helped offset lower commissions and the stock is off 3.2% today to bbnt reported a slight rise in its profits in the most recent quarter as it recorded merger of ha related expenses in suntrust. activity is strong and getting stronger. >> our pipeline where we measure the process are at an all-time high? so weir seeing a broad based leveling, and willingnesso man capital, and the stocks fell 1% today to $49.25. >>> he has names that h will benefit as the financial services industry becomes more automated especially when it comes to making payments. this is his first time on our program. welcome the ceo of lake

the us industrial company honeywell international will report earnings.sinesses which will likely have an impact on its revenue. that said, the company is benefiting from a robust demand for its aircraft parts and warehouse automation equipment. investors though, will be looking for comments on any possible disruptions to operations from the groundings of beoing's 737 max aircraft. also happening thursday, tesla ceo elon musk and the securities and exchange commission, the financial regulator, are due to submit a letter updating the court on the progress of the negotiations to resolve the sec‘s motion to hold mr musk in contempt of court for violating an earlier settlement agreement. joining us is kathleen brooks, founder & director, minerva analysis kathleen, interesting what's coming out of turkey. questions about the foreign reserves and quite how extensive they actually are? great analysis on this. they announced foreign reserves were over 28 billion for april however the ft looked back and found nearly half of this was actually from the very complex

. >> i got you but honeywell says, okay, i see you. i get you but i'm raising my guidance and united union pacific says i'm raising my guidance ceo was on the network earlier things are good. >> i think in the rails he said things were a little slow. >> he was -- >> you just said there was a slowdown i was listening to the interview. >> i was too. >> but things are better they are running it better but there's strength in the economy. nobody's coming out saying the economy is really weak united rentals, fwauk later, great quarter. >> what was doomsday with a lot of black clouds rolling in seems to be more sunny than people expected >> that's right. and again, we lowered expectations so substantially, right, so it's like were they playing games because you know if you miss, you're getting punished in this market right now. so i do think that they lowered expectations probably too much and now they're like oh, well maybe we got a little wiggle room maybe we will let them know we're doing better than we expected truth is the numbers and f

and the industrials are sucking up all the money honeywell. >> honeywell, 192 beats 183. >> steve tousaat was his favorite stock he had above numbers he was right once again. kind of annoying how right he has been honeywell was absolutely terrific dynamite simple building climate was up nine really amazing, david. >> did not take the bait from the activist in terms of a full split but went about some smaller divestitures. >> right. >> is greg coming on >> hayes i'm not aware of plans on his part to join us any time soon. we always welcome mr. hayes. >> you'll get him and i'll sit back and enjoy the -- people are still reeling from the mollenkopf versus cook thing i say bury the hatchet. >> clearly mr. mollenkopf was interested in burying the hatchet. qualcomm is down today. >> it's a moth to flame. >> a lot more focus on 5g as you have been talking about, jim. >> right. >> given that, it refocused people on the opportunity, in terms of the 5g chip sets, apple and the larger ecosystem you mentioned ericcson earlier in terms of that side. >> right some sellers are coming into tech today,

. >>> last week there was an unbelievable quarter for honeywell and i thought it couldn't be equaledhen today greg hayes from united technologies put up another amazing quarter and there we had otis coming back and climate control is good but this pratt & whitney ary rowspace is incredible ary rowspace, solution and honeywell and why united technology had an incredible acquisition. all i can tell youary rowspace is still big like to say there's always a bull market somewhere. promise to find it right here on "mad money." i'm jim cramer and i'll see you tomorrow >> welcome to the shark tank, where entrepreneurs seeking an investment will face these sharks. if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪ is a fashionable way to bring out your inner animal. what's up, sharks? my name is alexander mendeluk. i'm marley marotta. and we are the co-creators of spirithoods. we're seeking $450,000 for a 15% stake in our company.

restructured or honeywell got rid of residential.well got rid of auto. >> get out of these businesses instead of just trying to sort of tough it out? >> you can't anymore you can't. no, they have to make really wholesale changes. this company can't look like -- 3m now cannot look like 3m of years before. >> really? >> there's execution people have to be replaced those numbers are unfortunate. >> okay. >> they ought to merge with tesla, david bred in the circus the stock's fairly down. p.t. musk. got to love him. a million robo cars by 2018. i'm sorry, 2020. >> you're right. very soon. all coming here. robo cars. >> david, we don't have to move on, but i guess we are. >> we've got to. you know why we have a ceo doubleheader. >> who we got? >> well, first we've got dairy kelly. >> gary kelly from southwest air? >> yeah. >> killer. >> brian nichol. >> the guy who used to own taco bell and turned around chipotle. >> i'm happy to participate. i've got an 8.2 from bar stool for the pizza at the long short. >> all right let's give you anoth

honeywell were concerns how do you think the season is shaping up so far?el pretty encouraged. it wasn't just the industrials, although they were very important. listening to what those companies had to say that business and the economy was still good all of them said it's slower than last year but this is already reflected in the numbers and also in the valuation. i think this is a very under-owned group so you saw these stocks rally hard. we also have good earnings from american express and travelers i was very encouraged by american express' conference call they said the economy is solid they said it was very consistent in terms of the action from the consumer all throughout the quarter. so wasn't really soft in january, really strong in march. but that it was -- leaned a little bit that way but they did see activity in january, which was good and that brings me back to what i thought was the most important driver today, retail sales, nice rebound. we talked in february when the january number came out, it was a really glum number, right. and i knew it w

contrast that with honeywell, which blew away the numbers and got out of the automobile turbocharger business. a bedrock business for them. itw and 3m didn't see it coming. we have the 3m ceo on set this monday, talking about this war now, the hopes for all these companies had traditionally been china. they need the chinese economy to come roaring back after a vicious decline of auto sales. but no one's immune from the subscription economy, one reason ford has been rationalizing. they had ride sharing there. and ride sharing is just the tip of the iceberg even though demand is down, the automakers need to spend more money developing electronic cars, autonomous driving technology this eats into profits that goes for tesla, too, although anything from them is hard to grasp. if ford thinks it's a good idea to pull in its horns, i have to wonder about tesla's strategy. elon musk has worked manufacturing miracles, i admit. toyota should buy tesla. i'm always thinking. no one knows how much money is being lost as part of this head-long rush towards driverless electric cars is intel making

microsoft's cloud customer has airbus and honeywell just to name a few and then there's google and investors praised the company's products and says it needs a stronrales force and they understand that challenge announcing plans just this wee to ramp up his sales team. as for amazon, its investors care a lot about aws because it's the company's pfit center. last year, nearly 60% of azon's operating income came from its cloud business. for "nightly business port," i'm josh lipton,nc san fco. >>> it makes its debut on wall street and t where we begin tonight's market focus and the first notable software ipo of the year. it helps technical teams spot problems quicklyes andnd to consumer complaints. the offering price at $24 a share and they soared on their first day of tradingp nearly 60% to $38.25. meanwhile, marriott and travel site expedia have reportedly signed a new multi-year agreement according to cnbcns negotiatere tense and in the end marriott was able to negotiate a commission rate around the 10% range compared to the previous 12% range. shar of the company went to $123.25. expedia wa

kploe honeywell at $2 a share. revenue also beating wall street forecasts. company raising its full year outlook good news for the industrials here up 1.9%. ure watching "squawk box" on cnbc your daily dashboard from fidelity. a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity. >>> today is the big day for elan musk and the s.e.c. a judge gave the two parties two weeks to work out their dispute. phil lebeau joins us now with more >> joe, i wonder if they put on their reasonableness pants that's what the judge told them to do two weeks ago. i thought that was quite a quote from the judge she also said work it out. here's what's going on between the s.e.c. and the attorneys for elan musk. at least as much as we know because we haven't seen an updated filing with the court in the last two weeks remember, it was two weeks ago that we were at federal court in manhattan. we saw elan musk walk into before his hearing he didn't have a whole lot to say. a lot of

in the middle of first-quarter earning reporting season, honeywell hit the tapes, better than expectedhan expected, but as always investors want to know what's coming up and for the sales for this year, the company raising its forecast, so well above the 36.8 billion expected very strong number from honeywell, as you know the company big manufacturing, as you well know, maria, what we are waiting for is american express, so we will cycle back on that but in the meantime good news for honeywell where the stock is moving higher, back to you. maria: the stock up almost 2%, dierdre, thanks, we will get back to you as more earnings hit the tape. top story this half an hour, we are waiting release for redacted version. that will happen at 9:30 a.m. eastern, report released at 11:00 a.m., house democrats and president trump spoke out about the report ahead of news conference, listen to this. >> essential concern here is that the attorney general barr is not allowing the facts to have mueller report to speak for themselves but trying to bake in the report to the benefit of the white house and,

of collaboration between the safe water number, the greater hyderabad municipal corporation and honeywell corporation. israel can surely teach us about reclamation. when i traveled with larry hogan we learned israel, a country in the desert manages to reuse or recycle an astonishing 85% of their water. which is orders of magnitude beyond any other country. this desert nation has made the desert bloom and they generously shared their expertise with water stressed countries all over the world. in ethiopia, the foreign service officer, government officials and students, are using geospatial data provided by the us geological survey to not only identify and map the groundwater resources but to train other ethiopians and africans to expand this mapping capacity in other areas. the ethiopian government has leaned in setting ambitious goals for supply and sanitation and with usaid, exploring market-based solutions and capacity development on all levels. it is a key to sustainability. like i said, there are a lot of exciting things going on. i encourage everyone to check out all the stories from

benjamin honeywell's a is talk of what western civilization. monastery of italy into a far right cultural warrior as activists for a european populist movement. harm while has the backing of some powerful people but opposition is mounting and not just locally. next d.w. . enter the conflict zone fronting the powerful. the situation in venezuela could be people come here this week here is the son. who is venezuela's ambassador to the european union for the record of the cooling given to be used mr. conflict. in sixty. your. reaction. began around six hundred years ago. renaissance. text. to. each. artist. the renaissance faire. sorts of people twenty second d. w. . following a very warm welcome indeed to focus on europe with me craven and european elections are coming up at the end of may with big gains predicted for far right parties indeed one recent poll suggested that populist euro skeptic parties could emerge as the strongest forces in countries like france poland and it's really you know it's .

when honeywell is doing well i any honeywell made a major push of the robotics inside of amaz amazon >>. >> they sold it. nothing like what utx is moving towards. that company is in the midst of splitting stuff up >> china, china. >> david, third point and sony you have not commented >> we did a little bit yesterday, it is true, the story of dan loeb's third point earning a stake. it is about a special purpose vehicle allowing investors to promote one potential name the question is what is it he visited with these guys six years ago. he didn't get anywhere in terms of trieying to get them to and really address what is a discount of the nav of this company and doing it in any number of different ways it is not necessarily figuring something out here in the states or doing something on the studio figuring out a way to address that significant discount he feels or other investors do that the stock trades at no its nav >> stocks have been at a good performer. i am sure he does not want to tangle with george clooney again. george clooney came at him we'll see. it is very much unclear to m

we had good numbers out of honeywell, dover, granger, so this is a really big surprise. our head here. the only thing we can really come up with is that most of 3m's products are things you can easily inventory. perhaps there is some sort of going onentory destock in shorter cycle products. they are also exposed to more cyclical markets in china then many other industrial companies, but this really bears no resemblance to other companies for the quarter. david: why did we get no since this was coming? scott: 3m numbers have not been good for a while now, really the ceo steps down and the new team came in, and they have struggled. there are disruptions that occur, change in focus, et cetera. we are not exactly sure, but the numbers have not been good for several quarters. this, for sure, but nothing to write home about. alix: what we heard yesterday from caterpillar is they are seeing a lot of competition in their business from china that wound up hurting them, particularly on the margins side. did you feel like that was part of the story for 3m? scott: i don't think so.

we heard from ge and honeywell.of mind for analysts once we get to that earnings call. david: who makes the engines for the 737 max 8? technologiesd sells different parts for the 737 max 8. the engine is actually made by ge. it is too hard to say. it depends on whether we see -- the responsibility here remains very unclear. i tend to think it will not fall back on then too much. alix: is organic growth of 8% a utx specific thing, or an overall commentary? brooke: i think it is really aerospace. units technologies' other also did post growth, but not quite in the ballpark from aerospace. the big questions what they do about that breakup. they say they remain on target for those to become independent companies by mid-2020, but do they instead try to find a merger partner for one of those units. right now it seems like they are still planning on the spinoff. david: good news for aerospace. alix: and just to point out for and "starrozen 2" toys hitsode ix" october 4. i would be lying if i said i wasn't excited. coming u

honeywell makes stuff, but uber is a services company.anies that take a to get profitable placed the same type of that please that make stuff. these industrial companies, when you are in these maturing growth markets, you are expected to put up some cash flow from that. alix: the question becomes, if there is interest in it, does that cannibalize from companies like lyft, or new money coming into the market? do you want to sell something else to buy it? is interesting because lyft ipo was oversubscribed. investors bought into that knowing that uber was coming down the pipeline. i don't know that you have to own one or the other. i think that is going to be telling as far as when we get the financials. who do you have more faith in? who do you believe is a little more transparent on the price front? alix: thank you very much. this is bloomberg. ♪ alix: this is "bloomberg daybreak." i am alix steel. about 30 seconds away from the latest read on inflation. equity future still in the green. the dax also climbing .4%. the ecb meeting did not t

benjamin honeywell's a means to defend what western civilization is timing an old monastery the italy into a school for far right cultural warrior as activists for a european in this movement. while has the backing of some powerful he posts opposition is mounting and not just locally. in ninety minutes on d w. what secrets lie behind these moves to. find out in an immersive experience and explore a fascinating world cultural heritage sites. d w world heritage three sixty get the. the big. this news coming to you live from berlin wiki leaks founder julian assange is under arrest in the british police took us on into custody aspect were those embassy in the british capital and his asylum has been rigged draw want to be cold up in the building for the past seven yes also the program.

of collaboration between the safe water network, the greater hydrobod municipal corporation and honeywell corporation. israel can surely teach us about reclamation. when i traveled to israel with maryland's governor larry hogan, we learned that israel, a country in the desert, manages to reuse or recycle an astonishing 85% of their water, which is orders of magnitude beyond any other country. this desert nation has made the desert bloom and they have generously shared their expertise with water stressed countries all over the world, including with water stressed states here in the united states. and in ethiopia, where i once served as a foreign service officer, government officials and students at the university are using geospatial data provided by the u.s. geological survey to not only identify and map groundwater resources, but to train other ethiopians and africans to expand this mapping capacity in other areas. the ethiopian government has really leaned in, setting ambitious goals for both supply and sanitation and with u.s. aid's support, exploring market-based solutions and capacit

compmpanies include amazon, netflix, general motors, ibm, chevron, eli lilly, delta, occidental petroleum, honeywell, prudential, halliburton, whirlpool, and goodyear. meanwhile, democratic presidential candidate senator elizabeth warren has introduced a proposal called the "real corporate profits tax" to force companies to pay a 7% tax on all profits over $100 million. senator warrenen outlined the pn on thursday on msnbc. >>>> the simplicity of it is pat of what mamakes it work so well and makes s sure no giant corporation in this country gets away with paying zero while small companies andnd families e having to o pick up ththe tickeo run the country. amy: the trump administration has refused to allow prominent palestinian human rights to enterar barghouti the united states. barghouti is co-founder of the boycott, divestment and sanctions movement or bds. in a statement barghouti said -- , "this u.s. entry ban against me, which is ideologically and politically motivated, is part of israel's escalating repression against palestinian, israeli and international human rights defenders in the bds move

dover bead by 12 speakers, honeywell by, travelers, union pacific.n a typical time poll of the time you'll see about 3% earnings beats, and they're better that are expected, because analysts cut too much in december all of these stocks trading to the up side. the other story today ipos, pinterest, we are talking about 15 to $17. it opens at 2375 you see here trading above that number itself. zoom, even bigger story. just four days ago we were talking 28 to 32 wait -- they price at 36, it opens at 65. that's not a typo, and trading right around where it opened so what's going to be next we don't know, but here's some thoughts april 22nd, iheart media could potentially announce terms that's one of the unicorns out there, and potentially next friday, april 26th, uber could potential do that. more likely the following weeks. terms, not going public, but announcing when it might be and a range of pricing >>> a lot of stuff coming down 20 ipos, tyler, in the month of may, at least, maybe as many as 25 >> supply is coming. robert, thank you very much. >>> w

well i wouldmuch rather see you in a company that could benefit either way i mean -- why not be in honeywell or united technologies i think you're selling yourself short and you're from georgia. he don't want that to happen it is not fair to you. you showed spirit and saw dah veef and i don't want you to lose money don't go there to dee in virginia >> reporter: boo-yah, jim. "mad money" rocks. >> you bet it does. >> caller: tlaft time i called i told you i'm your biggest fan. we love your show. we're to grateful to be part of the "mad money" community. >> yes. >> caller: so thank you. so today i was watching so much on the news that the great earnings report from mastercard. >> it was so fabulous. >> reporter: and customers for a long time and we have a -- a long-term stock portfolio. so what do you say about -- >> oh, no. this was in our bull pen to be added next thursday when i do my plus.com plug call and both have gotten away. a.j., will you please come on the show i don't beg. so i'm not begging please come on i'm begging. alex in california, please, alex. >> caller: boo-yah, mr. jim cr

key investor falling big top analyst jpmorgan's tusia is back to tell us where he thinks 3m, ge, honeywell micro technologies are heading

two dow components posting results, american express and travelers will report along with honeywell,r, phillip morris and union pacific. we'll get retail sales for the month of march before the open. retail sales expected to jump nine-tenths of 1% after sliding in february. cheryl: attorney general william barr will be sending a redacting version of the mueller report to congress later this morning, but it's stirring a big controversy even before its release and the press conference by him at 9:30 a.m. eastern time. let's bring in correspondent p amber athey. what are you expecting today? >> bottom line, i think both parties are going to use this to their advantage, to push their own narrative. republicans have said that the president is fully exonerated. that's something that a.g. barr has been careful to say is not actually the case. we do know that there is no collusion and apparently not enough to charge the president with obstruction of justice. democrats are actually alleging a coverup on behalf of a.g. bill barr. they accused him of misrepresenting the contents of the mueller

look at what is happening with honeywell in the united states. industrials seem to be sucking money out of the health care sector at the moment. ftse 100 a little lower. health care stocks have gotten knocked a little bit by the mitch mcconnell comments related to the fact that he could potentially be looking to raise the tobacco age in the united states to 21. that is knocking some of the big and imperial. good.s numbers still look the question is, can they continue to beat this incredibly high bar that has been set? some of the data out of germany continue to be really grim. we have seen an impact in the german ten-year. a couple of days back, trading around nine bits. now trading around six bits, may be heading back into negative territory. you have to kind of wonder, as you look at the retail sales numbers out of the united states, whether the u.s. ten-year would be trading circa 3% rather than 2.5% if we didn't see this gravitational effect from the german market. vonnie: as i mentioned a few months ago, the justice department does have on i

some of the other major industrial bellwethers we've gotten results from so far be it caterpillar, honeywell, even ups whose ceos was on squawk alley earlier this morning they're signaling they're seeing stabilization, even signs of improvement in some of these key markets like china and ha there is globally growth just maybe not as much or not as fast as we saw last year. but keep in mind, though, 3m the lead time to manufacture, say, an kaex vaitor for caterpillar a lot longer than some of the products 3m makes and sells to the market like tape and medical supplies, et cetera, so 3m is seen as a more immediate barometer of where we're at in terms of the economy >> morgan, happy birthday, by the way. it is morgan brennan's birthday. and 3m is down 13% will fred, over to you >> happy birthday, morgan. let's get to the closing bell exchange aaron brown from pimco and our own rick santelli joining us to discuss the markets with about an hour left to trade. 56 minutes left to trade aaron, do the recent sort of all-time highs that we've seen make you think we're due a pullback and a sell-off now

we've also got johnson & johnson, ibm, netflix, pepsi, morgan stanley, amex, honeywell and travelers. which one or ones, could just be one, should you be buying before it releases its earnings? we go to our traders on the floor show. scott, what do you think? is there a name or two where you say scoop it up now? >> it depends on the time frame. if you are an investor or trader. my traders rarely buy something right before it's going to report earnings because you never know. what i do is buy options. i was bullish on goldman sachs going in, i bought options and it's down six, seven, i lose my premium, it's okay, i move on. i'm watching netflix. netflix is very important tomorrow after the close. you recall friday, it got beat up on the disney subscriber costing or whatever they are charging so we need to see how netflix reacts for tech. the fang names are very important to the momentum of this rally. we are above s&p 5002900. it will be very hard to go much further if they don't respond to netflix positively. i think with the discount we saw in netflix, if you want to buy netflix call

at all-time highs, honeywell, mastercard, microsoft, aftericaoracle, not d enough >> reporter: i have 13 on the s&p coming down here out of 500 hitting new highs so yeah, you brought up some good names, dow jones names, but i want to see a lot broader breakout right now >> fair point. bob, stay with us. we're talking about the earnings, because it raises the key question, were those fears about a looming recession way overblown? let's bring in alicia levine, chief strategist at bny melon investment management. we get the nuggets from corporate america that point to consumer strength and pricing power. kimberly-clark and whirlpool able to raise prices and pass that along there is strength out there, even if we had gyrations in the numbers for the last few months? >> hi, kelly there is strength and the interesting list about stocks you mentioned at all-time highs, all of them are multinational companies that have a large percentage of their business lefrd levered to overseas revenue, telling you the global picture is better than expected and you should continue to see this moving forwar

the good ones, i want you to start with honeywell, which is easier than boeing i expect them to give us terrific numbers also, we hear from america's best it's a complicated technology stock, and right now, the marxt loves these, but amx has a tendency to sell off after reports. my advice, wait until you see the whites of the sellers' eyes and then pull the trigger. dhr, known for their travel trust, we're not taking profits. i would be remiss if i didn't say this stock has had a monster move a lot of people feel they stole it i felt they paid them full price, but that's not the point. if you hear that 2019 is going to be an investment year because of that acquisition, the stock is going to get hit. and then you bounce. i adore the rails. mentioned that earlier, but union pacific is tough this company has been delivering with fantastic numbers gigantic buyback of course, they now have to worry about crops being weak because of the storms and fracking sand falling through the floor because they have so much now i wouldn't get in front of a speeding train then there's schlumberger. hug

the companies include amazon, netflix, general motors, chevron, delta, honeywell, prudential, halliburtonirlpool, and goodyear. elizabeth warren recently introduced a proposal called the real corporate profits tax to force companies to pay a 7% tax on all profits over warren $100 million. ououtlined the plalan recently n msnbc. >> it is just t if you have more reported million in after-tax profits, the 100 millioionth and first dollar should be taxed at 7%, and they go straight across the board. thee simplplicity of it is papaf whatat makes it work so well and makes sure no giant corporation in this country gets away with paying zeroo while small companies and families are having to pick up the ticket to run the country. amy: that is elizabeth warren. we hope she will join us on democracy now! we hope all those who are her friends and close circle will your that message and she herself. but we're joined now by nobel prize-winning economist joseph stiglitz. his latest book, "people, power and profits: progressisive capitalism foror an age of discontent." what about this? >> it is like anan

verizon,ably be greeted positively united technologies has the unenviable position of putting it after honeywell which delivered one of the best industrial quarters of 2019. i think they'll do fine. they're getting close to the breakup, otis elevator and aerospace that will unlock a ton of value coca-cola similarly rotten as is united technologies. they have to follow a picture-perfect accelerated growth quarter from pepsico, so they're in a tough position. too tough for me how about proctor? i mentioned kimberly-clark if freight and plastic are under control for kimberly, you can get beathea should be for p & g too. if it goes down, i consider buying some. we have two stocks that are being beat meaning they tell us how entire sectors will trade. centene in the morning and texas instruments for the semiconductors i believe centene will report a terrific number. but health care is hated right now. oh, it bounced a little today, but if the stock can rally anyway, let's just say it's good news for this horrendous group take your cue from centene to see if we can go back to hp or pms, health care as

look at companies like -- >> like what >> like honeywell. multinational. >> new high the other day. >> but another highly liquid, really good management team that has products sold all over the world and any type of global growth, multiple expansion and earnings growth so i think that's another name to watch for. >> nasdaq's at 8,004 as we speak. semis, another intraday all-time high today, first time since march 13th tech sector we said hit a new record high today on pace for a record close why not stay with what's working, jim and not just necessarily these old line tech stocks that you have been talking about. but you've got to believe if money, new money is going to come to work in the market, that these f.a.n.g. stocks, which have had a bit of a, you know, kick start, are going to continue to perform well whether it's apple -- we're going to talk about netflix in a second because of its earnings coming up after the bell facebook has even more issues today, go figure >> but your point is well made there's an obvious structural reason her

we have been meeting a lot of companies that have party invested into malaysia, like honeywell and others have more investments coming from america, knowing full well that they understand our fundamentals and understand we are very serious in rebuilding back our nation and all the opportunities to be had in malaysia. haidi: can you tell us more about what deals may have been what are the negotiations might be underway into this existing relationships? >> we are already in talks with many companies. just now i had a meeting with a large company that is expanding further in malaysia. the investments that have already signed on to our being added up even more than ever before. we are confident that many more will come in. many more have extended their interests. haidi: you have suggested the u.s. and china should focus on striking a trade deal out of a sense of global responsibility. seen as one economy that could benefit from u.s.-china trade tensions. we have seen a recovery on volumes and values. do expected to be sustained? with manyovery comes challenges, from negative perception of the

we'll get honeywell, we'll hear from ge, the rest of them.nk, andrew, we're seeing numbers come in slightly better than expected across the industrial space, at least. and you're certainly seeing that in united technology's numbers we saw the same thing in honeywell last week, you know. so, i think we're at the front end of what could be a bit of a better-than-expected earnings trend. >> and when you think about this utx story, are you raising your forecast on the stock? >> yeah. look, it's a clean beat. it's a modest raise. it wasn't the sort of blow the doors off type of numbers that you have seen in the past. but look, the last couple years, sales growth at utx hasn't really been dropping to the bottom line because the company's bin vesting in so many numerous franchises. so this quarter you'll get 8% organic growth on the top line, 8% in adjusted eps growth. there's no leverage in that, but it's a step in the right direction. and furthermore, i mean, the strongest areas of the portfolio were in aerospace. and so, with the company breaking

how about if honeywell had bought them? would that be something?eally unsung and does not seep. >> we talk about him a bit >> he's not a show boat and does not want to come on "squawk" or our show >> he was on "mad money" once, he was extraordinary >> some companies have different kinds of media strategies and some of them don't involve going on television. >> if it is working fine, why screw with it? >> because it is an imperative for us >> i am working on net sequel. >> they should do what you want to everyon though it does not ft in their plans >> we'll talk about twitter. lyft shares are up in the market at least 7 with a buy or equivale equivalent i am just looking jp morgan and jeffery and all out performed and credit suisse and reymond james. >> don't forget piper, hailing is a $500 billion market by 20.40. when i do the 20.40 "squawk" and we hit that number -- >> what a warning? you are right with the ceos, they don't need to come on every head wind they have done that, the fed and the dollar and president and china. these things turn out t

coming up later, an exclusive interview with honeywell ceo. alix: time for follow the lead.ories making headlines with key industry veterans and insiders. today we are taking a look at sustainable finance. todman sachs committed leveraging its role as a financial institution to drive impact, 100 $20 billion in clean energy financing and investment by 2025. goldmanme on set is sachs head of environmental market and managing director. thank you for being here. there are three ways in which goldman is trying to get this done. can you lay out what they are? >> one of the things we do is harness the market to help influence key societal issues including climate change in the environment. today is earth day. we do this across each and every one of our businesses. it is a way we can better serve our clients and also generate growth and value for our investors. you mentioned the 100 $50 billion -- the $150 billion in clean energy. when you think about climate change, energy is the largest contributor of ring house gas -- of greenhouse gas. it is also cap intensive. that is an area w

his favorite recommendation is honeywell.ght in the middle of nowhere in the second quarter when the sixers were up a couple, they announced $10 million buy back that's what a great company is $10 million by the w $10 million buy back >> there is more where that came from >> gm and ge is okay alphabet has to spend so much to play the role of number 3 in the cloud. look out at ibm. >> david, i wonder if that has any implications for all of the break up talk that we hear about big tech and google. >> you know what, i was on the phone there, i didn't hear all of the questions in terms of google >> we said you are great looking and fascinating guy. >> thank you thank you. >> no. >> we need your take on these stocks, david. >> no, you don't listening to you from far away, you are better in some way than when i am right there. >> holy cow, that's how my wife says, further away i am better pretty interesting >> you were dead on google earlier with wish, that was poetry >> hey that's a good byte >> that quarter was full of salmon and