Google Now returns? Gemini Space could bring a Daily Hub feature to Pixels (APK teardown)
TL;DR Google is developing a new feature called Gemini Space for Pixel devices, potentially as an evolution or rebrand of the current At a Glance feature.
We've now found strings for a 'Daily Hub,' feature within At a Glance/Gemini Space, described as a 'space for content and suggestions to simplify your day.'
This suggests Daily Hub could offer helpful content and suggestions similar to Samsung's Now Brief and the erstwhile Google Now.
We've previously spotted Google working on a feature called Gemini Space for Pixel devices. There aren't a lot of clues telling us precisely what this feature is or what it would do, but we speculated that it could be Google's version of Samsung's Now Bar and Now Brief features. We've now spotted more clues pointing in the same direction.
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An APK teardown helps predict features that may arrive on a service in the future based on work-in-progress code. However, it is possible that such predicted features may not make it to a public release.
On recent Galaxy flagships, the Now Bar is a small chip on the lock screen with live app updates. It is complemented by Now Brief, a full-screen summary of your day with contextual information, which can be accessed from its Now Bar lock screen shortcut, the Now Brief home screen widget, or the Edge panel.
Now Bar showing Now Brief shortcut
Home screen with Now Brief widget
Edge panel with Now Brief shortcut
Now Brief
Previously spotted evidence suggested that Google could be planning to rebrand the Pixel's At a Glance into Gemini Space, and relaunch it with more capabilities. At a Glance can be argued to be very similar to Now Bar already, while Gemini Space could be comparable to Now Brief.
We've now spotted new strings that corroborate our direction, albeit with a new feature called 'Daily Hub' that could exist within Gemini Space:
Code Copy Text gemini_space_subzero Show a space for content and suggestions to simplify your day Daily Hub
In the strings above, 'SmartSpace' is the codename for the Pixel-specific At a Glance implementation (not to be confused with the At a Glance widget that is part of the Google app and is available to all Android smartphones with the app installed). The Pixel-specific At a Glance implementation looks like a widget but cannot be removed from the Pixel Launcher, so it is a permanent addition to the home screen and lock screen.
Further, 'subzero' appears to be the codename for the Daily Hub feature, which is described as a 'space for content and suggestions to simplify your day.' It sounds a lot like Samsung's Now Brief, and even surprisingly close to what the long-dead Google Now feature used to offer.
Google Now
It remains to be seen what direction Google ultimately takes for Gemini Space and its Daily Hub feature, but it's looking more likely to be similar in concept to Now Bar and Now Brief. We'll keep you updated when we learn more.
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Geographically, Honeywell is global (over 40% of output outside the U.S.), and it has a significant U.S. government business (roughly $3.4 B in contracts), adding diversification and resilience. Honeywell commenced 2025 with robust financial results, surpassing the high end of its guidance across key metrics in the first quarter. Reported sales reached $9.8 billion, representing an 8% year-over-year increase (vs. the consensus estimate of $9.6 billion). Operating income increased by 6% year-over-year, reaching $1.97 billion in Q1 2025, up from $1.86 billion in Q1 2024. Adjusted EPS demonstrated a healthy 7% year-over-year growth, reaching $2.51, which is notably above the consensus estimate of $2.21. Furthermore, the company showcased impressive cash flow generation, with operating cash flow increasing by 33% and free cash flow by 61% year-over-year. A granular look at each business segment reveals the varied contributions to Honeywell's overall Q1 2025 performance. 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The Elliott Management activist campaign has already pushed for these changes: Elliott will add partner Marc Steinberg to Honeywell's board as part of the agreement on the breakup. This activism underscores that management is under pressure to improve performance. Honeywell is undergoing a profound structural transformation, aiming to create three distinct, publicly traded companies, a move that is expected to redefine its long-term trajectory. Honeywell announced its intention to separate its Automation and Aerospace businesses, a plan that, when combined with the previously announced spin-off of Advanced Materials, will result in three independent industry leaders. Honeywell Automation: This new entity will concentrate on the industrial sector, delivering technologies, solutions, and software designed to enhance customer productivity. Honeywell Aerospace: This company will specialize in providing commercial and defense aircraft customers with essential products such as aircraft propulsion, cockpit systems, and advanced aviation technologies. Advanced Materials: This will form the third independent public entity. The separation process is anticipated to be completed in the second half of 2026 and is designed to be a tax-free event for Honeywell's shareholders. To ensure a smooth transition, Honeywell has established dedicated separation management offices to oversee the complex transformation processes. The strategic decision to split is rooted in a clear vision for enhanced long-term value creation. The primary objective is to "unlock significant value for shareholders and customers" by establishing standalone companies that benefit from a "simplified strategic focus" and "increased financial flexibility". Activist investor Elliott Investment Management, a key proponent of the split, argued that simplification is crucial for restoring shareholder value and improving operational performance. They criticized Honeywell's historically inconsistent earnings and lagging stock performance under the conglomerate structure. CEO Vimal Kapur articulated that the decision is driven by a "conviction that there's more growth momentum and more value to create as a separate company". He further emphasized the growing divergence in the operational needs of the aerospace business (requiring focus on capacity expansion and supply chain transformation) and the automation business (demanding attention to artificial intelligence and digital transformation). This restructuring aligns with a broader trend observed across the industrial and aerospace sectors, where large conglomerates, including General Electric and United Technologies, have pursued similar breakups to create more agile, specialized companies capable of adapting more effectively to market demands. As Honeywell prepares for its three-way split into Automation, Aerospace, and Advanced Materials, assigning sector-specific valuation multiples offers insight into potential upside. For instance, Honeywell Aerospace, with strong recurring aftermarket revenues and ~27.5% margins, could warrant a forward P/E of 2325x, in line with peers like Raytheon Technologies and TransDigm. Automation & Building Solutions, driven by industrial software (Honeywell Forge) and high-margin access/security platforms, could command 2224x, comparable to Rockwell Automation or Schneider Electric. Meanwhile, Advanced Materials, a lower-growth but cash-generative business, may trade closer to 1517x, similar to DuPont or Celanese. Applying these multiples to segmental earnings suggests the sum-of-the-parts (SOTP) valuation may exceed Honeywell's current blended multiple of ~21.8x, supporting the argument that the breakup could lead to a valuation re-rating as markets price each business more accurately based on fundamentals. The role of activist investor Elliott Investment Management has been instrumental in shaping Honeywell's strategic direction. Elliott acquired a significant stake in Honeywell, reported to be "north of $5 billion," in November. The firm "strongly advocated for" the restructuring and is acknowledged to have "played a key role in influencing Honeywell's decision" to restructure. As a direct outcome of a cooperation agreement, Marc Steinberg, a partner at Elliott, joined Honeywell's board of directors as an independent director and audit committee member, effective May 31, 2025. He will serve until the company's 2026 annual shareholder meeting. This agreement also includes standard governance provisions such as voting commitments and standstill restrictions. Elliott provided a compelling valuation thesis, estimating that the standalone aerospace unit alone could be worth over $100 billion. They projected a potential value per share for the combined entities between $321 (base case scenario) and $383 (bull case scenario) by the end of 2026. These figures represent a significant upside of 54% to 84% from the stock's price at the time of their analysis. Honeywell CEO Vimal Kapur publicly described Steinberg's input in recent months as "constructive," indicating a positive dialogue between the two parties. Honeywell had already initiated a strategic portfolio review and planned a spin-off of its Advanced Materials business. However, Elliott Investment Management's substantial stake and its public advocacy for a broader corporate breakup directly preceded and clearly influenced the subsequent announcement of the more extensive three-way split. This suggests that while management may have had a long-term vision for simplification, the activist push provided the necessary impetus and urgency to undertake such a complex and potentially value-unlocking maneuver more aggressively and swiftly. This also implies a higher degree of accountability for the transformation's successful execution, given Elliott's direct board representation and their public valuation targets, which will likely serve as benchmarks for success. Honeywell's breakup strategy echoes proven value-creation models seen in industrial conglomerates like Danaher and United Technologies. Danaher's systematic spin-offs, such as the separation of Fortive in 2016, unlocked significant shareholder value by sharpening business focus and improving capital allocation discipline. Similarly, UTC's breakup into Carrier, Otis, and Raytheon Technologies in 2020 allowed each company to pursue more targeted strategies and trade at sector-appropriate multiples. Both cases demonstrate how separating distinct business lines can lead to enhanced operational visibility, strategic agility, and increased investor confidence. By following a similar path, Honeywell is positioning itself to replicate this playbook, transforming from a diversified conglomerate into three specialized, high-performance entities with clearer growth narratives. Beyond the structural transformation, Honeywell is committed to several key drivers for sustained long-term growth. The core rationale for the planned three-way split is to achieve "simplified strategic focus" and create "more agile, specialized companies". However, the company is simultaneously navigating a complicated restructuring while also adding new businesses through acquisitions. For example, the acquisition of Sundyne for $2.16 billion was announced and completed during the ongoing breakup process. Continued Bolt-on Acquisitions: Management has explicitly stated its intent to "continue to make M&A a consistent part of our operational rhythm, seeking to acquire accretive bolt-on that further shape the portfolio and enhance the value proposition of each business during the dependency of the separation process". Recent acquisitions such as Sundyne and Carrier's Global Access Solutions exemplify this strategy. Digitalization Initiatives: Honeywell is heavily invested in digitalization, with platforms like Honeywell Forge and the Honeywell Connected Enterprise driving digital transformation across its segments. The acquisition of SCADAfence specifically strengthens the Honeywell Forge Cybersecurity+ suite, enhancing its industrial cybersecurity offerings. Honeywell Accelerator Operating System: This internal operating system is credited with enabling consistent margin expansion and improved operational efficiency across the company. Commitment to Shareholder Returns: Honeywell has a strong track record of shareholder returns, having maintained dividend payments for 41 consecutive years, with a current dividend yield of 2%. The company has committed to deploying at least $25 billion towards acquisitions, dividends, capital expenditures, and opportunistic share buybacks through 2025. Honeywell International is trading at a forward P/E of 21.8x based on its 2025 EPS estimate of $10.37, and 19.9x on its 2026 EPS estimate of $11.37, below its five-year average of 23.05x. The company is actively reshaping its portfolio through strategic, accretive acquisitions aligned with megatrends like energy transition, industrial cybersecurity, and smart buildings, while divesting non-core assets to streamline operations. The planned three-way split into Honeywell Automation, Honeywell Aerospace, and Advanced Materials, driven in part by activist investor Elliott Investment Management, marks a pivotal move to unlock long-term shareholder value. This transformation aims to boost strategic focus, agility, and financial flexibility. While near-term macro headwinds, including muted industrial demand and shifting global trade dynamics, persist, Honeywell's focus on R&D, strategic M&A, and its local-for-local approach position it well for resilience. Successful execution of this transition could lead to improved performance, clearer strategic direction, and a potential valuation re-rating as the market begins to price in the distinct value of its specialized businesses. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
