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Stock Market & Financial Investment News

News Breaks
February 4, 2014
08:03 EDTIMN, IMImation expands distribution agreement with Ingram Micro
Imation (IMN) announced that it has expanded its U.S. distribution agreement with Ingram Micro (IM) to include Imation’s Nexsan™ storage solutions. Under this agreement, Ingram Micro will leverage its vast network to recruit and support new resellers for Nexsan solutions, allowing those partners in the U.S. to capitalize on the rapidly growing need for scalable storage to support strategic IT initiatives.
News For IMN;IM From The Last 14 Days
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April 15, 2014
10:00 EDTIMOn The Fly: Analyst Upgrade Summary
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06:55 EDTIMIngram Micro upgraded to Buy from Neutral at Citigroup
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April 7, 2014
09:31 EDTIMIngram Micro upgraded to Buy from Neutral at Northcoast
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April 4, 2014
10:25 EDTIMSYNNEX soars to 52-week high after results, guidance top estimates
Shares of business process services company SYNNEX (SNX) are rallying after the company’s first quarter results and second quarter outlook topped analysts’ consensus estimates. WHAT'S NEW: Last night, SYNNEX reported Q1 adjusted earnings per share of $1.25 and revenue of $3.03B, against consensus views of 94c and $2.77B, respectively. The company forecast Q2 adjusted EPS of $1.34-$1.38, easily surpassing the consensus of $1.14. Q2 revenue was seen at $3.1B-$3.2B, compared to the consensus of $3.01B. “We believe the strength we have recently experienced in IT demand will continue in our second quarter,” stated Kevin Murai, President and CEO of SYNNEX. “We are on track with our integration of the combined Concentrix business and expect to close the IBM customer care acquisition in the remaining countries in the coming months.” ANALYST REACTION: This morning, research firm Brean Capital raised its price target on SYNNEX to $85 from $72 following the company’s results and guidance. The firm cited solid demand in the core distribution business complemented by impressive growth in the Concentrix business. Shares were Buy rated. PRICE ACTION: In morning trading, SYNNEX soared $14.36, or about 23%, to $76.78 on heavy trading volume. Earlier in the session, the stock hit a fresh 52-week high of $77.98. Including today’s advance, the stock has gained approximately 117% over the past twelve months. OTHERS TO WATCH: Others in the business process services industry include Ingram Micro (IM) and Tech Data (TECD).
09:00 EDTIMIngram Micro price target raised to $40 from $31 at Brean Capital
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