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Omar Venerio
Omar Venerio
Articles (1420) 

US Stocks Green Wednesday

TE Connectivity's earnings beat and strong sales

U.S. stock markets are set to open higher on Wednesday after the S&P 500 and Nasdaq Composite set all-time closing highs yesterday.

Shares of TE Connectivity Ltd. (NYSE:TELtraded lower on premarket Wednesday session as the company provided financial results for its first quarter of fiscal 2018. The company posted adjusted earnings per share of $1.40 on revenue of $3.48 billion. Both figures upbeat estimations of 15 cents in per-share earnings and $100 million in revenue. Revenue growth was 13.7% year-over-year.

For the next quarter, the company expects net sales in the range of $3.55 billion to $3.65 billion. Diluted earnings per share are expected to be between $1.18 and $1.22 and adjusted earnings per share between $1.33 and $1.37.

Gainers

• Navient Corp. (NASDAQ:NAVI)

• McKesson Corp. (NYSE:MCK)

• Whirlpool Corp. (NYSE:WHR)

• Abbott Laboratories (NYSE:ABT)

• Royal Caribbean Cruises Ltd. (NYSE:RCL)​

Losers

• United Continental Holdings Inc. (NASDAQ:UAL)

• Delta Air Lines Inc. (NYSE:DAL)

• Texas Instruments Inc. (NASDAQ:TXN)

• Ulta Beauty Inc. (NASDAQ:ULTA)

• Under Armour Inc. (NYSE:UA)

Global Markets

The main European stock markets traded in the red. The U.K.'s FTSE lost 0.63%, France's CAC slid 0.29%, Spain's Ibex retreated 0.13% and Germany's Dax was down 0.17%.

In Asia, Japan's Nikkei lost 0.76%, while Hong Kong's Hang Seng rose 0.08%, China´s SSE Composite jumped 0.37% and India’s BSE Sensex advanced0.06%.

Disclosure: The author holds no positions in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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