Honeywell's profit rises 18%

> Honeywell International Inc.'s earnings rose 18 percent ($723 million, or 96 cents per share), driven by higher profits in its aerospace and building control systems businesses.

The Morristown, N.J.-based diversified manufacturer said sales rose 13 percent to $9.67 billion from $8.54 billion a year ago.

Honeywell has also boosted its forecast for 2008 by 5 cents per share to a range of $3.75 to $3.85 per share. Chief Executive Dave Cote said he expects the company to post double-digit earnings growth in the second half of the year.

"Our businesses are well positioned with the long-term macro trends, such as safety, security, energy efficiency and energy generation," Cote said.

> Toy maker Mattel Inc.'s profit fell by 48 percent ($11.8 million, or 3 cents per share), hurt by lower global demand for Barbie toys and higher costs, but results still beat expectations.

> Mobile-phone maker Sony Ericsson recorded a 97 percent drop in second-quarter earnings as tougher market conditions hurt sales. Net profit at the joint venture of Tokyo-based Sony Corp. and Stockholm, Sweden-based LM Ericsson fell to $9.5 million.

> Oilfield services provider Schlumberger Ltd.'s profit increased nearly 13 percent ($1.42 billion, or $1.16 a share) as high oil and natural gas prices prompted heavier spending among customers to find more fossil fuels.