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TE Connectivity Ltd. (TEL)

  • Wed, Jan. 28, 8:08 AM
    • CommScope (NASDAQ:COMM) agrees to acquire TE Connectivity's (NYSE:TEL) telecom, enterprise and wireless businesses for $3B, in an attempt to diversify its operations and broaden its geographic reach.
    • COMM says it expects more than $150M in annual savings starting in the third year after the deal closes.
    • TEL says the sale will allow it to focus on connectivity and sensor markets, particularly harsh environment applications; the deal does not include TEL's subsea communications or data communications businesses.
    • TEL says it will use proceeds from the sale for stock buybacks, as well as acquisitions and other investments; its board authorizes a $3B expansion of its share buyback program.
    • Earlier: TE Connectivity beats by $0.08, misses on revenue
    • TEL +3.6%, COMM +2.1% premarket.
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  • Wed, Jan. 28, 6:03 AM
    • TE Connectivity (NYSE:TEL): FQ1 EPS of $0.98 beats by $0.08.
    • Revenue of $3.47B (+4.2% Y/Y) misses by $40M.
    • Shares +6.93% PM.
    • Press Release
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  • Mon, Jan. 26, 7:20 PM
    • TE Connectivity (NYSE:TEL) is "nearing a deal" to sell its telecom/networking equipment unit to CommScope (NASDAQ:COMM) for about $3B, the WSJ reports. A deal could be announced as soon as this week.
    • The business in question, known as TE's network solutions unit, had FY14 (ended Sep. '14) sales of $2.9B (21% of TE's total revenue). For reference, CommScope's 2014 revenue consensus is only at $3.84B, and the company had a market cap of $4.06B as of today's close.
    • TEL +6.1% AH to $67.00. COMM +6.4% to $23.00.
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  • Oct. 10, 2014, 5:36 PM
    • Top gainers, as of 5:15 p.m.: APH +7.8%. TEL +6.1%. SPWR +5.0%. URI +4.6%. MHR +4.5%.
    • Top losers, as of 5:15 p.m.: SFLY -6.9%. APT -4.9%. SPN -3.6%. BSBR -2.3%. KMX -1.6%.
  • 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.
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  • 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.
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  • 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."
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  • 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.
  • Sep. 9, 2013, 9:30 AM
    • Amphenol (APH) +1.3% premarket, Methode Electronics (MEI) +3%, and TE Connectivity (TEL) +1.7% following news fellow electronic component/interconnect maker Molex is being acquired for $7.2B, or a 31% premium to its Friday's close.
    • Methode and TE were already trading close to their 52-week highs.
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  • Jul. 24, 2013, 1:45 PM
    TE Connectivity (TEL +5.5%) jumps after beating estimates with its FQ3 results. The company also raises its full year guidance, saying it now sees adjusted EPS of $3.18-3.22 on revenue of $13.2-13.3B. Consensus is $3.15/ share on $13.28B in sales. (PR)
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  • Mar. 30, 2012, 9:34 AM
    Goldman Sachs upgrades TE Connectivity (TEL +3.1%) to Conviction Buy and takes its price target on shares up to $45. The firm says TEL makes a good play for betting on electronics growth in the auto industry.
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  • Oct. 12, 2011, 9:05 AM
    Premarket gainers: LIZ +42%. AONE +15%. FRO +10%. ONXX +8%. TEL +7%. ALU +7%. BCS +6%. ING +5%. ASML +5%. DB +5%. MT +5%. RBS +5%. MPEL +5%. GNW +5%. CS +4%. DRYS +4%. YRCW +3%. SIRI +3%. S +3%. BHP +3%. NOK +3%. FCX +3%. UBS +3%. QGEN +3%. AU +3%. MCP +3%. RIO +3%.
    Losers: CHKM -5%. PCX -5%. PWER -4%. AT -4%. AA -4%. HST -3%. FSLR -3%.
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  • Oct. 11, 2011, 6:21 PM
    TE Connectivity (TEL) will replace Cephalon (CEPH) in the S&P 500 index after the close of trading on Friday, October 14. Cephalon is being acquired by Teva Pharmaceutical Industries (TEVA) in a deal expected to be completed on or about that date pending final approvals. TEL +6.9% AH.
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  • Jul. 20, 2011, 12:33 PM
    More on TE Connectivity (TEL +4.5%): FQ3 profits rose +7.6% as the top line got a boost from acquisitions and sales strength in its communications and industrial-solutions units, which helped to offset higher material costs.
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Company Description
TE Connectivity Ltd designs and manufactures electronic products that connect and protect the flow of power and data.