Despite corporate America spending cautiously ahead of the presidential election and the oil and gas industry still seeing weakness, industrial giant TE Connectivity (TEL) managed to notch a solid end to its fiscal year amid strength in the global auto market. On Wednesday, the company -- whose products range from sensors used in new car infotainment systems to electrical components for industrial applications, reported adjusted fiscal fourth quarter earnings of $1.27 a share vs. $0.90 a share a year ago. Wall Street expected about $1.20 a share. For the fiscal year ending September 2017, TE Connectivity guided to earnings of $4.19 to $4.49 a share on revenue of $12.3 billion to $12.9 billion. Analysts were looking for revenue of $12.7 billion and earnings of $4.32 a share. TheStreet's Brian Sozzi talks with TE Connectivity's Chairman and CEO Tom Lynch and President Terrence Curtin about how the company may benefit from the rise of autonomous cars and recovery in the oil and gas market.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.