HomeInvestingHoneywell CEO addresses massive activist stake - plus, new Waymo expansion plans

Honeywell CEO addresses massive activist stake – plus, new Waymo expansion plans

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Muted market: Wall Street is having a subdued session on Thursday. The Nasdaq Composite and S & P 500 were little changed, while the Dow Jones Industrial Average was modestly lower. Within the S & P 500, consumer discretionary was the top-performing sector, up roughly 1%, with help from Tesla’s nearly 3% advance and Amazon’s over 1% move. The worst-performing group was materials, down more than 1%, amid a more than 6% swoon in aluminum products maker Ball Corporation and a nearly 3% drop in steelmaker Nucor . We’ve been watching Nucor in the Bullpen . Hearing from Honeywell: Honeywell CEO Vimal Kapur on Thursday spoke publicly for the first time since activist investor Elliott Management initiated a more than $5 billion stake in the industrial conglomerate and called for a break up of the company. Central to Elliott’s vision is turning Honeywell’s aerospace and automation divisions into standalone companies. Kapur has been working to get rid of the dead weight in Honeywell’s myriad businesses and also make acquisitions and partnerships that bolster the company’s focus on three key areas: automation, the future of aviation, and the energy transition. Kapur said the company is

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