On July 22, TE Connectivity declined 4.36% in regular trading, trading at $195.2/share, with turnover of $106 million. Despite reporting strong fiscal Q3 results before the open, the stock reversed sharply after the bell as buying momentum faded.

The company posted fiscal Q3 net sales of $5.16 billion versus the FactSet estimate of $5.01 billion, representing 14% year-over-year growth with 12% organic growth. Adjusted EPS came in at $2.94, beating the consensus estimate of $2.84 by 3.5% and marking a 22% increase year-over-year. The company also announced a roughly $1.4 billion acquisition of Astrodyne TDI, expected to close by year-end, and issued Q4 guidance above expectations with projected adjusted EPS of $3.05 versus the $2.97 estimate.

Multiple positive catalysts initially drove shares up over 5.7% in pre-market trading. However, after the regular session opened, buying pressure dissipated rapidly, with the stock surrendering its entire pre-market gain and turning decisively negative, suggesting investors may have priced in the strong results ahead of the report.

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