Honeywell

(HON) - Get Report

rose 12.5% in early trading after confirming it is in merger talks with

United Technologies

. United Technologies was down 11.2%. The merger of the two

Dow

components would combine Honeywell's businesses, which include aircraft electronics and chemicals, with United Technologies'

Otis Elevators

,

Pratt & Whitney

aircraft engines and

Sikorsky

helicopters.