TE is trading at $10.00 (+5.49%) as it extends a strong two-day rally driven by its recent Russell index reconstitution and an increase in share authorization.
- The June 27 Russell rebalancing moved the stock out of several value benchmarks and into growth-focused indexes.
- The move appears idiosyncratic, with TE outperforming a weaker broader market after previously gaining +2.01% during pre-market trading.