Honeywell, Harley-Davidson Draw a Rash of Bearish Bets
By Tennille Tracy
Word Count: 431 | Companies Featured in This Article: Honeywell International, General Electric, Wachovia, Zions Bancorp, Regions Financial, Harley-Davidson
Options traders took bearish bets on several companies expected to report earnings this week, including Honeywell International.
Trading in Honeywell jumped to an 11-month high on Monday, just days before the company is set to release first-quarter results on April 18.
Traders braced for Honeywell shares to slip after General Electric, another global conglomerate, missed its earnings expectations by a wide margin and said its net income dropped by 5.8%.
"People are betting that Honeywell and other diversified conglomerates might have some pain to bear as well," ...
Source: Wall Street Journal
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