Wall Street experienced a quiet session during morning trading on Tuesday, influenced by a lack of significant economic data and minimal updates on earnings from major large-cap companies.
Rockwell Automation reported lower Q2 FY24 results and cut its FY24 outlook. Sales fell 6.6% Y/Y, but total ARR grew 20% Y/Y. Adjusted EPS beat estimates at $2.50. Company is searching for new CFO.
Schneider Electric and Bentley Systems are in talks, hinting at a major shift in engineering software. The French industrial leader eyes Bentley's renowned solutions, with a potential merger valued at over $15 billion,. Despite uncertainties, this move underscores Schneider's strategic drive, echoing its history of aggressive acquisitions to fortify its software arm against industry titans.