Movement Alert｜TE Connectivity Falls 3.05% in Pre-Market Trading, Strong Quarterly Results and Outlook Fail to Prevent Profit-Taking

Market Focus10-28 20:32

On October 28, TE Connectivity fell 3.05% in Pre-Market Trading, with shares at $219.04 and turnover of $554.1 thousand.

The main catalyst was its latest earnings release: fiscal fourth-quarter adjusted EPS came in at $3.14 on revenue of $5.31 billion, both slightly above consensus, while fiscal first-quarter guidance was also ahead of expectations.

For the quarter ended late September, revenue rose 11.6% year over year from $4.75 billion, and adjusted EPS increased from $2.59 a year earlier. The company said it expects fiscal first-quarter sales of about $5.35 billion and adjusted EPS of about $3.30, compared with market expectations near $5.14 billion and $3.01. Despite the beat-and-raise profile, the pre-market fall suggests investors may be locking in gains after prior strength and recent target-price increases by several brokerages.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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