KEY TAKEAWAYS Honeywell International cut its full-year sales and earnings outlook following an aviation technology partnership the conglomerate struck with Canada's Bombardier.Honeywell said that required investments of its tie-up with the Canadian aircraft maker will affect its results and lowered its guidance for the second time since October.

HON is set to offer Bombardier its state-of-the-art aviation technologies for the latter's existing and future aircraft.

Shares of Honeywell International Inc. fell in extended trading Monday after the conglomerate cut its outlook for the months ahead, citing the costs of investing in a new tech-focused collaboration with jet maker Bombardier announced earlier in the day.

With the new agreement, Honeywell will provide Bombardier with advanced technology for current and future aircraft. As the companies enter into a new agreement, a years-long lawsuit is settled.

Honeywell on Monday cut its profit and sales forecasts for the fourth quarter and the full year to take into account investments associated with an agreement to provide aviation-related technology for Bombardier's aircraft.

Honeywell International signed a strategic agreement with Bombardier, prompting the industrial conglomerate to once again cut its guidance and its stock price to fall.