Tyco Posts Solid Third-Quarter Results; Merger with Johnson Controls Set to Close in Early September
Narrow-moat Tyco reported third-quarter consolidated sales and adjusted earnings of $2.45 billion and $0.54 per share, respectively, which were slightly ahead of consensus expectations. While the company was able to grow organic revenue 1.5% year over year, foreign-currency headwinds more than offset organic growth, and total sales declined 2%. The firm’s third-quarter adjusted EPS improved $0.08 per share from the prior-year quarter, mainly due to lower restructuring charges. We are maintaining...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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