On Monday, Shares of TE Connectivity Ltd (NYSE:TEL), subtract -0.24% and closed at $66.74 in the last trading session. The last trading range of the stock ranges between $66.45 and $67.50. TE Connectivity Ltd., together with its auxiliaries, engages in the design, manufacture, and sale of connectivity and sensors solutions mainly in Switzerland. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions. The Transportation Solutions segment mainly provides terminals and connector systems, sensors, and relays, in addition to application tooling and wires and heat shrink tubing for use in the automotive, commercial transportation, and sensor markets. The Industrial Solutions segment offers terminals and connector systems, relays, and wires and cables, in addition to heat shrink tubing for industrial equipment, aerospace, defense, oil and gas, and energy markets. The Communications Solutions segment supplies electronic components, such as terminals and connector systems and components, undersea telecommunication systems, circuit protection devices, antennas, relays, and heat shrink tubing for the data and devices, Subsea communications, and appliances markets. TE Connectivity Ltd. offers its products to about 150 countries mainly through direct selling to manufacturers, in addition to through third-party distributors. It has a partnershipagreement with 3D Glass Solutions Inc. for the development of electronic interconnect devices using glass-based system-in-package technology.
Burlington Stores Inc (NYSE:BURL), jumped 3.56% and closed at $75.44 in the last trading session. The last trading range of the stock ranges between $73.13 and $75.70. The company’s Market capitalization is $5.44 Billion with the total Outstanding Shares of 71.34 million. Burlington Stores, Inc. (BURL) (“Burlington”), a nationally recognized off-price retailer of high-quality, branded apparel at everyday low prices, recently issued the following statement in response to a report issued on November 3, 2016 by self-proclaimed short seller Spruce Point Capital Administration.
The Company stands by its financial statements and emphatically denies the claims made in the report. The report, which is filled with innuendo and baseless allegations, is based on flawed, inaccurate and misleading analysis.
The Company also notes that the short seller stated in the report that it ‘stands to realize noteworthygains in the event that the price of [Burlington’s] stock declines’.
Burlington’s financial statements are prepared in accordance with GAAP and any non-GAAP information is reconciled to its GAAP equivalent. Burlington’s annual financial statements are audited by Deloitte & Touche LLP.