US Stocks Green Wednesday
- By Omar Venerio
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. (TEL) traded 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.
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The intrinsic value of TEL
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.
G ainers
o Navient Corp. (NAVI)
o McKesson Corp. (MCK)
o Whirlpool Corp. (WHR)
o Abbott Laboratories (ABT)
o Royal Caribbean Cruises Ltd. (RCL)
L osers
o United Continental Holdings Inc. (UAL)
o Delta Air Lines Inc. (DAL)
o Texas Instruments Inc. (TXN)
o Ulta Beauty Inc. (ULTA)
o Under Armour Inc. (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.
This article first appeared on GuruFocus.
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The intrinsic value of TEL
