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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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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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