| Show Business Editor 625-424- 4 www 4A standard net Standard-Examine- r BUSIN Saturday AjvilJtJOOl profits sour taeprell’s Company to cut 6500 jobs before sale to GE Stattani twww staff rvxi w “The forecast unfortunatefacts" said Nicholas Heymann electrical equipment analyst at l'ruden-tia- l Securities Inc Heymann said that Honeywell has given analysts and no guidance on its ex’ (( hviow TRENTON NJ - With silos in key markets slumping and first quarter profits down d2 percent high-tecmanufacturer Honeywell International Inc on Friday announced plans to cut 65()0 jobs to remain competitive The O500 job cuts spread across Honeywell's businesses around the world represent about 5 percent of its global work force Honeywell operates a Fram air filters plant at the Freeport Center in Clearfield The plant has about dOO employees I loney well spokesman Tom Crane said he could not comment on the impact of the cuts to local facilities He said company wide many of the job cuts already had been implemented beginning in January and in most other cases affected employees have been notified oil and ly was bast'd on no Honeywell operates a Fram oil and air filters plant at the Freeport Center in Clearfield The plant has about 300 employees H report likely will be the last for the Morris Township-base- maker of aerospace automotive and electronic products By the end of this quarter wiien those layoffs should be completed Honeywell expects completion of its acquisition conby Fairfield Conn-baseglomerate Ctcncrul Flectric Co the world’s most valuable company and one of the most profitable last year Adjusted for gains and losses the company this quarter earned $415 million or 51 cents per share That fell short of a forecast of analysts surveyed by Thomson Call who were expecting earnings of 58 cents per share In afternoon trading on the New York Stock Fxchnnge Honeywell shares were up 4 cents at $47f4 d one-tim- e Finan-cialFir- Honeywell re r net income ported of $41 million or 5 cents per share down from $500 million or 6d cents per share a year curlier On Friday first-quarte- The disappointing earnings pected sales and earnings since the Oct 22 2000 announcement that it would be acquired by General Flectric in a deal now worth ubout $41 billion creating one of the world's largest industrial companies The two companies’ high-tecbusinesses overlap in many areas yet there is little overlap in their products Honeywell's sales fof the h quarter ended March 31 dipped to $5V5 billion down from $004 billion in the year-agperiod "Clearly we're seeing downturns in some of our end markets and these actions are being taken to address these weaknesses" Crane said Sales of automotive products from truck brakes and friction materials to replacement parts antifreeze and oth- rCUMINOII w&uwimuM o Man' A ‘1 MIS 2550 2 1082 2144 2) 125 50 SJiQO AH dH Canada ftanca 7 Qemiany llaly Japan Memw Rn- 48 15451 M1 I 4445 5502 7 5JII At It Ah AtH0' AAVAl Nua i h Mul pm (lAity t1 tt 11 I’F tftho MMOOrn Futuru A'Kl pt 2 1801 2164 04 121 62 S3000 ok ahow AHM E5l$a IMONItRATI Wk Agn Yeeieniay ' Oold(lmyo NYMX Sand NVdf Stocks take turn at profit-takin- g Contracts to Chocolate maker reaps bounty Microsoft report beats estimate tho Assoulntml Plans NEW YORK - Stocks thut were moving substantially or trading heavily Friday on the New York Stock Exchange und Nasdaq Stock Market 9 40 57 JO 6 41 10 24 441 1021 By UE3BV QUAID WASHINGTON - Companies owned by women are receiving Just 25 percent of the government's nearly $2(X) billion a yeur in contracts und Congress says that's not nearly enough In fact lawmakers declared five years ago the percentage must be doubled It hasn't huppened' By all accounts the government-wide numbers won’t change much until there is a sizable Increase at the Defense Department which controls the lion's share of federal contracting And at the Pentagon a decade of military downsizing has slushed the pixil of specialists who match businesses with contracts That mutters because small companies cun get lost in the labyrinthine world of federal contracts By helping a company navigate what's available and what's required to get it these specialists can cut yeurs off the process "To get business you have to get certified but you can't certified until you actually Set business” said Lydia Wankmk WMt BIMMT WklQT WkMtXr Itershey Foods Corp down $162 ut $6191 r curnings rose 11 percent at the nation's largest candy maker First-quarte- BlkBIrTT 640 Blnmh 11 13 BtakHH 63 71 ftnoMwtr BluaCI) Bluaftq Bkiayraan 16 26 40 7 -- $204 60 4 415 JdTTU W 84wno C1K1T (100 Mri will Nnw MuA MwtwiW CM! (4 Nan yurt Ooaid oMi 11 VAApu $200 1674 Chkg( XHChwu s 01 38 46 -- - 09 06 07 66 -- 40 13 70 161 Btyth 0896 Bung 61 -- 70 M 19 8 43 Bombay Bordar 1760 BoryWam 46 n6 BnilPrcp 37 40 Commerce One Inc down $251 ut $1120 Lucent Technologies Inc The Internet software venup 79 cents at $983 The company’s fiber optic dor wus downgraded by several Investment firms on con- unit is being eyed for acquisition by companies including ccrns ubout future eurnlngs and u decline in its cash hold‘Corning according to pubings lished reports Inktomi Corp up 73 cents & ut Co down $462 Merck at $774 $7365 The networking company's Merrill Lynch downgraded the pharmaceutical company chief executive suggested the 'o “neutrul" from "accumulate" company had seen the worst of its business slump und that its in the intermediate-tersayr losses would nur-rothe should proing company vide steady performance but Microsoft Corp up $157 ut lacks "strong pipeline catalysts to help drive news flow or an $6959 The software maker bent accelerating earnings growth analysts' quarterly estimates pattern going forward" BoatRol Bnwatf Bnwna nyrtdm BoyMnL Brandy BtAAtllfti 10 OR -- 10 IBM 4700 960 -- 16 30 407 4 16 1140 19 06 36 46 0 - 86 -- 4 09 48 BrtqHItal Bfinkar 4144 04 66 - 73 BrMyHq BWAlr 6610 6116 4 01 406 - 40 Brlltal BmadiMg23 30 10 BrnBmJWM4 BrwnPB 60 BrwnBhoa 18 Brunawk 21 TfK 74 13 ’ 4 13 4 18 4 18 - 09 - 13 third-quarte- $4 to $11250 The technology sector which enjoyed some of the bigthis week was gest run-upmore mixed Hewlett Packard dropped 80 cents to $3170 But Microsoft which reported earnings on Thursday rose 98 cents to $69 Wall Street's big Indicators are still registering losses for s d the year but the Dow nonetheless lias surged ubout 13 percent since reaching its lowest close for the year 938948 on March 22 Declining issues led advancers nearly 5 to 3 on the New York Stock Exchange Consolidated volume came to 157 billion shares compared with 175 billion Thursday firms fall short Women own an estimated 38 Schmitt a plastics engineer who formed her own company percent of all businesses In the LPS Injection Molding ubout United States but they resix months ago In Girard Kan ceived 25 percent of the $189 Schmitt wants to become u billion in federal contracts subcontractor for u corpora- awarded In fiscal 1999 the tion that does business with most recent year for which du-t- a urc available the Defense Department such as Boeing Co Ruytheon According to a recent study Co or any of the other by the General Accounting Ofuerospace companies In Wichifice the Investigative arm of ta Kan Congress federal contracting Preliminary steps such us with firms headed by women has grown In some agencies certifying that a potential contractor does good work con notably the departments of become huge hurdles Veterans Affairs State and Patricia Pliego Stout says NASA she spent six yeurs seeking But the government will Pentagon business for her San never meet Its 5 percent target Antonio-basetravel service unless the goal Is met by the company Defense Department which In Stout fiscal 1999 achieved Finally in only ubout learned she had been awarded 25 percent Oklahothe travel services for Robert Neal the Pentagon's ma City's Tinker Air Force Base The work will boost her director for small und disadstuff at The Alumo Travel vantaged business utilization acknowledged that adding acGroup from 20 to 27 employquisition specialists might ees help But he said it's tough to A contract government "builds up your Image as a mukc the cose for hiring them "When I lisik at and request contractor it gives you security" said Stout a board mem- Increases for personnel und ber of the National Women's they look at thut relative to Business Council und a leader modernizing our weapons of the National Association of systems I don't fore very well In the discussion" Women Business Owners Air-cru- BarkHaAftflMlOflO MfkH0778400 Baalituy MU 40000 1100 33 2KJ AM Beverly 14 7 OdvMU BmvaXpf 7 19 17 BWI it ---- 02 82 07 19 ttarD 4002 -- 11 BlkMIGp SOOO -- 100 ft f fXvKR d Listings of mutual funds can b found In the Sunday Standard Examiner mid-Marc- Dllbert I £l MUST KEEP IN MAY I BORROW YOUR CHAIR? MIND OUR COMPANY'S 'CORE VALUES OF TRUSt) INTEGRITY AND TEAMWORK I I ftODltf 10 Ml 16740 $4 140 04 - 03 -- BoKmC NASDAQ NYSE women-owne- d Amodalod Prosi (K)I) g EHUNXl NFW YORK - Wall Street ended Its best two weeks of the year Friday with profit-tuklnfrom a spectacular rally that included triple-digi- t gains in the How Jones industrials and Nasdaq composite index Analysts weren’t ularmed by the losses which amounted to 1 percent or less on each of the three major Indexes "Investors should be thrilled if the murket retreuts and gives up only hulf of the gulns we saw In the last few days" said John Forelli portfolio manager at Independence Investment IIC "If we then start Inching up from there that would be a definite victory for the market" The How closed down 11386 at 1057985 ending the Week up 45291 or 45 percent Broader Indicators ulso fell Friday but rosu for the week The Nusdaq slipped 1873 to 216341 giving it an advance of 20198 or 103 percent for the week The Standard & Poor's 500 Index slipped 1071 to 124298 ending the week up 5948 or 50 percent Profit-takinwus particularly noticeable in pharmaceutical and financial stocks Merck dropped $466 or 6 percent to $7361 despite reporting quarterly results in line with analyst expectations American Express fell $146 to $4150 Industrial and manufacturing stocks also lugged 3M slid yarning Silvti (lioy o wl) Coftw (pound) Aluminum (pound) per- "t V 'Spot er consumer auto products were down as much as 25 cent he said i DHitmlwl t'f NtHIWn era nAn k'F IPO A'Hl yA! to tatl Pf amt( oft owl |
