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TE Connectivity Guides Q2 Below Estimates - Quick Facts
(RTTNews) - While reporting financial results for the first quarter on Wednesday, industrial technology firm TE Connectivity Ltd. (TEL) provided earnings, adjusted earnings and sales outlook for the second quarter, below analysts' expectations.
For the second quarter, the company projects earnings from continuing operations of about $1.44 per share and adjusted earnings of about $1.57 per share on net sales of about $3.9 billion, reflecting a decrease of 3% on a reported basis and an increase of 2% on an organic basis year over year.
On average, analysts polled by Thomson Reuters expect earnings of $1.64 per share on revenues of $3.94 billion for the year. Analysts' estimates typically exclude special items.
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TE Connectivity Approves Addl. $1.5 Bln Share Repurchase Program
Industrial technology firm TE Connectivity Ltd. (TEL) announced Friday that its board of directors has authorized an increase in its share repurchase program by an additional $1.5 billion.
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Singapore Bourse Expected To Halt Losing Streak On Wednesday
The Singapore stock market has moved lower in four straight sessions, slumping more than 25 points or 0.7 percent in that span. The Straits Times Index now sits just above the 3,805-point plateau although it's due for support on Wednesday.
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Rebound Anticipated For Malaysia Stock Market
The Malaysia stock market on Tuesday snapped the four-day winning streak in which it had gathered more than 35 points or 2.2 percent. The Kuala Lumpur Composite Index now sits just above the 1,515-point plateau although it figures to bounce higher again on Wednesday.
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Japan Market May Crack Resistance At 36,000 Points
Ahead of Tuesday's holiday for Showa Day, the Japanese stock market had finished higher in four straight sessions, collecting almost 1,650 points or 4.6 percent along the way. The Nikkei 225 now sits just beneath the 35,840-point plateau and it's got a solid lead for Wednesday's trade.
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South Korea Industrial Output Jumps 5.3% On Year In March
Industrial production in South Korea was up 5.3 percent on year in March, Statistics Korea said on Wednesday - beating forecasts for a gain of 3.3 percent following the 7.1 percent jump in February.
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Higher Open Predicted For South Korea Shares
The South Korea stock market has moved higher in three straight sessions, collecting more than 40 points or 1.7 percent in that span. The KOSPI now sits just above the 2,565-point plateau and it's expected to open to the upside again on Wednesday.
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Japan Data Due On Wednesday
Japan is scheduled to release a batch of data on Wednesday, highlighting a busy day for Asia-Pacific economic activity. On tap are March figures for industrial production, retail sales, construction orders and housing starts, as well as February results for the leading and coincident indexes.
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Swiss Franc Recovers Against Most Majors
The Swiss franc recovered against its most major counterparts in the New York session on Tuesday.
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