Tyco Electronics Boosts Expectations

Most people remember Tyco’s name in relation to the scandalous exploits of Tyco International’s CEO Dennis Kozlowski and CFO Mark Schwartz, but fortunately for Tyco Electronics, the future is looking bright. The stronger dollar, along with increased sales and higher revenue, has led to a more optimistic fiscal third-quarter outlook.
Tyco Electronics’ shares are up 19 percent this year so far, jumping 7.2 percent in after-hours trading today to $20.65. The news probably comes as a surprise and a relief to Tyco investors and executives who, earlier in the year, expressed concern over a general lack of demand in its products …read more