Market Focus

Honeywell

Honeywell may be in a buying mood. The company says it’s considering potential acquisition targets after it posted better than expected third-quarter profits and raised its earnings and revenue outlook for the year. Its strong quarter was driven by sales gains in almost all of its units. Shares rose more than four percent $90.06.

Bank of New York Mellon

Bank of New York Mellon saw its profit rise as it made more money from investment fees in its third quarter, but revenue came in below analyst estimates. Still, the stock was up 20 cents to $36.36.

Textron 

Textron reported a 60 percent jump in quarterly profit, thanks to a lift in higher deliveries in its aviation unit. Encouraged by that strong demand, the maker of Cessna jets also raised its full-year earnings forecast. Shares rose about $3 to $36.65.

Amgen, Sanofi & Regeneron

Amgen has filed a patent infringement lawsuit against Regeneron Pharmaceuticals and Sanofi over their experimental cholesterol drug. The suit alleges that the two companies are violating three of Amgen’s patents and it’s seeking to stop the companies from marketing their drug. Despite the legal battle, shares of all three companies ended higher with Regeneron up more than eight percent.

Mead Johnson Nutrition 

Mead Johnson rose on takeover rumors. The French food giant Danone reportedly has its eye on the company as a takeover target. That sent shares of the company up about 10 percent to $100.23.

CF Industries

CF Industries and Norway’s Yara International have called off their $30 billion merger. The deal would have created a massive player in the fertilizer industry. Apparently the two firms couldn’t agree on the terms of the combination. Shares of CF fell 3.5 percent to $244.96.

Cliffs Natural

News that Cliffs Natural will take a big charge in its third quarter sent shares tumbling. The mining company said it would write down the value of its coal and iron ore assets by $6 billion because of weak prices. The stock fell eight percent to $8.74.

General Motors 

General Motor’s top lawyer, Michael Millikin, is retiring next year. Millikin’s department was heavily criticized for how it handled the ignition switch recall that has now been linked to at least 27 deaths. The automakers say it will immediately begin an external search for his replacement. Shares were up 30 cents to $30.24.

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