Diversified U.S. manufacturer Honeywell International Inc expects first-quarter sales and profit to be at the high end of its previously provided outlook, and authorized a $3 billion share buyback program. Honeywell, which also reaffirmed its 2011 forecast, said it would buy back shares during 2011 to offset the dilutive impact of employee stock-based compensation plans. The world's largest maker of cockpit electronics now expects first-quarter sales of about $8.7 billion and earnings of about 80 cents a share.
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