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Jul. 29, 2014, 12:48 PM
- TE Connectivity (TEL -0.4%) is selling $500M worth of floating rate senior notes due 2016, $250M of 2.35% senior notes due 2019, and $250M of 3.45% senior notes due 2024.
- Some of the proceeds will be used to help pay for the $1.7B Measurement Specialties acquisition.
- TE had $1.6B in cash/equivalents as of June 27, and $3B in debt.
Jul. 23, 2014, 6:01 AM
- TE Connectivity (NYSE:TEL): FQ3 EPS of $1.00 beats by $0.01.
- Revenue of $3.58B (+3.8% Y/Y) misses by $20M.
Jul. 22, 2014, 5:30 PM
Jun. 18, 2014, 4:20 PM
- TE Connectivity (TEL) is buying industrial sensor maker Measurement Specialties (MEAS) for $86/share, or $1.7B after factoring net debt. The price represents a 10% premium to MEAS' Wednesday close.
- With MEAS expecting FY15 (ends March '15) revenue of $540M, TE is paying 3.1x forward sales.
- TE asserts the deal give it "a leadership position" in the sensor market, and allows it to offer "an unmatched range of connectivity and sensor solutions that are essential in a world where everything is increasingly connected."
- The deal is expected to close by year's end, to be financed with both cash and debt, and to yield mid-single digit EPS accretion in its first year. TE forecasts double-digit post-merger growth for its sensor ops.
- The purchase comes two months after a deal to buy underwater electrical connector firm Seacon for $490M.
May 16, 2014, 11:04 AM
- TE Connectivity Ltd. (TEL) declares $0.29/share quarterly dividend, 16.0% increase from prior dividend of $0.25.
- Forward yield 2.05%
- Payable June 13; for shareholders of record May 30; ex-div May 28.
Apr. 23, 2014, 6:05 AM
- TE Connectivity (TEL): FQ2 EPS of $0.95 beats by $0.04.
- Revenue of $3.43B (+5.2% Y/Y) misses by $20M.
Apr. 23, 2014, 12:05 AM| Apr. 23, 2014, 12:05 AM
Apr. 22, 2014, 5:30 PM| Apr. 22, 2014, 5:30 PM
Apr. 11, 2014, 9:48 AM
- Corning (GLW -1.4%) has been cut to Neutral by UBS.
- Symantec (SYMC -1.3%) has been cut to Equal Weight by Barclays.
- TE Connectivity (TEL +1.3%) has been upgraded to Buy by BofA/Merrill.
- Imperva (IMPV +1.6%) has received a contrarian upgrade to Buy from Sterne Agee a day after falling 44% due to its Q1 warning.
- Demandware (DWRE +0.9%) has been upgraded to Outperform by BMO.
- Ellie Mae (ELLI -5%) has been cut to Market Perform by FBR.
Apr. 2, 2014, 10:46 AM
- TE Connectivity (TEL +2.7%) is acquiring the Seacon Group, a maker of underwater electrical connectors, for $490M in cash. The deal is expected to close in TE's FY14 (ends Sep. '14).
- Seacon's connectors are used in underwater/remotely-operated vehicles, as well as in oil/gas, environmental, and oceanographic applications.
- TE says the deal strengthens its position in oil/gas (a growing market), and that the combination of Seacon's fiber optic offerings with TE's cable and power connector products will "create a leading product offering for undersea applications."
Feb. 13, 2014, 7:24 AM
- TE Connectivity Ltd. (TEL) declares $0.25/share quarterly dividend, in line with previous.
- Forward yield 1.75%
- Payable March 14; for shareholders of record Feb. 28; ex-div Feb. 26.
Jan. 23, 2014, 9:41 AM
- Fusion-io (FIO +11.7%) has been started at Buy by Craig-Hallum after beating FQ2 estimates and issuing light FQ3 guidance.
- Rambus (RMBS +5.3%) has been upgraded to Buy by Citi ahead of Monday's Q4 report.
- TE Connectivity (TEL -0.2%) has been upgraded to Buy by Cross Research after delivering an FQ1 beat yesterday.
- CalAmp (CAMP -7.7%) has been cut to Neutral by B. Riley.
Jan. 22, 2014, 6:01 AM
- TE Connectivity Ltd. (TEL): Q1 EPS of $0.82 beats by $0.05.
- Revenue of $3.33B (+6.4% Y/Y) beats by $60M.
Jan. 22, 2014, 12:05 AM
Jan. 21, 2014, 5:30 PM
Dec. 3, 2013, 5:25 PM
- TE Connectivity Ltd. (TEL) board approves $0.04/share increase in quarterly dividend to $0.29/share, representing an annual yield of 2.19%. (PR)
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