Most of the companies reporting in the industrial
sector have seen a similar kind of narrative around their recent
results. The general story is of some softness caused by a
weather-affected fourth quarter, but the underlying conditions are seen
as positive. Paradoxically, automotive and building products supplier Johnson Controls (NYSE: JCI ) disappointed the market, because the bad weather was expected to boost its results more than it did!
Johnson Controls, but can't control the weather
There wasn't a lot wrong with Johnson's latest results, but the market sold off its shares nonetheless. One of the market's issues seems to be that its power solutions segment results were not as strong as expected.
There wasn't a lot wrong with Johnson's latest results, but the market sold off its shares nonetheless. One of the market's issues seems to be that its power solutions segment results were not as strong as expected.
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