Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks are pulling back from record highs Wednesday afternoon, with the S & P 500 on pace to snap a nine-session winning streak. With oil prices and interest rates climbing higher, there's weakness across consumer discretionary and financials names — both are classic economically sensitive groups. Renewed concerns about private credit are also hurting the financials. Technology traded lower, mainly due to a sell-off in software. The software group — as measured by the iShares Expanded Tech Software Sector ETF (IGV) — pulled back for the second session in a row. That's on the heels of a powerful three-day rally across Thursday, Friday and Monday. As a result, the IGV is still trading well above levels from a month ago. The AI trade was mixed as strength in "bottleneck" supply chain areas like storage and CPUs was offset by dips in most of the hyperscalers and Nvidia . Meta Platforms rallied despite the tech weakness after it announced a new agentic feature businesses can use across apps like WhatsApp, Messenger and Instagram. One reason Meta Platforms has significantly lagged other hyperscalers this year is concern over its massive AI spending and the lack of a clear monetization. Unlike Alphabet and Amazon , Meta doesn't have a high-margin cloud computing business generating tens of billions of dollars per quarter to offset its aggressive AI spending. So when Meta says it has new competitive large language model, subscription program, or tool it can make money on, the market quickly jumps on it as something that justifies the spending. Honeywell Aerospace on Wednesday revealed long-term financial targets at its investor day, another step toward its highly anticipated spin-off later this month. In the slide presentation, the company said it expects to generate at least $6.5 billion in adjusted earnings before interest and taxes (EBIT) by 2030. According to FactSet, analysts estimated that the aerospace segment within the current conglomerate would generate $6.2 billion in operating income in 2029 — the estimates don't go out to 2030 just yet. Keep in mind, a lot of management teams tend to be conservative at their investor meetings ahead of becoming a separate company. The worst thing they can do is overpromise and underdeliver. During a CNBC interview from the event, CEO Jim Currier pointed to huge demand from commercial aircraft makers and defense customers, along with the benefits of having a more focused business. "It unlocks substantial firepower within the business, becoming an independent standalone. We got a purpose-built management team just solely focused on one strategy, one mission as opposed to disparate missions as being a part of a conglomerate." Honeywell Aerospace is targeting an organic sales compound annual growth rate (CAGR) of between 6% to 8% through the end of the decade. That's in line with Honeywell's projections at the 2025 Paris Airshow , when it projected its Aerospace portfolio would have a long-term growth rate in the mid-single digit to high-single digit range. Analysts at Barclays predicted last week that Honeywell Aerospace would reaffirm that target. Honeywell Aerospace will officially split from parent Honeywell International on June 29, then trade under the ticker symbol: "HONA." The remaining Honeywell will retain its automation division and be called Honeywell Technologies, which will hold its Investor Day on June 11. Shares of Honeywell International dropped more than 2.5% on Wednesday, a move likely due more to the broader stock market decline than the aerospace targets. The aerospace sector has become very sensitive to energy prices and the flow of oil through the Strait of Hormuz because jet fuel supply shortages have led to flight cancellations. About 60% of Honeywell Aerospace's revenue will come from commercial original equipment and commercial aftermarket sales. It's a major night for earnings with Club holdings Broadcom and CrowdStrike scheduled to report. Five Below is another report to keep an eye on. Before the opening bell on Thursday, we'll see earnings from networking provider Ciena . On the data side, consulting firm Challenger, Gray & Christmas issues its monthly job cuts report, and the Labor Department will release weekly jobless claims. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. 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