Molex forecast improves for sales
LISLE -- Molex Inc., a maker of electrical connectors for phones and computers, climbed as much as 13 percent in Nasdaq trading on Thursday, the most since July 2002, after the company's sales forecast beat analysts' estimates. Revenue in the third quarter ending in March will jump to as much as $860 million from $807 million a year earlier, the Lisle-based company said Wednesday. Analysts had projected sales of $818.5 million. The company is benefiting from increasing demand for mobile phones. Molex rose $2.92 to $24.92 in Nasdaq Stock Market composite trading.
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