New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 4, 2014
10:25 EDTSNX, TECD, IMSYNNEX 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).
News For SNX;IM;TECD From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
May 29, 2015
10:01 EDTTECDOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
07:44 EDTTECDTech Data downgraded to Market Perform from Outperform at Raymond James
Subscribe for More Information
07:16 EDTTECDTech Data price target raised to $71 from $63 at Brean Capital
Subscribe for More Information
May 28, 2015
06:09 EDTTECDTech Data sees Q2 America sales decline in low to mid-single-digits
Subscribe for More Information
06:08 EDTTECDTech Data reports Q1 non-GAAP EPS 80c, consensus 71c
Reports Q1 revenue $5.89B, consensus $5.63B. Reports Q1 Americas net sales $2.3B. Reports Q1 Europe net sales $3.5B.
May 27, 2015
16:02 EDTTECDTech Data to acquire Signature Technology Group
Subscribe for More Information
15:30 EDTTECDNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Toronto-Dominion Bank (TD), consensus $1.11... Signet Jewelers (SIG), consensus $1.63... Flowers Foods (FLO), consensus 30c... Tech Data (TECD), consensus 71c... Sanderson Farms (SAFM), consensus $3.32... Express (EXPR), consensus 14c... Abercrombie & Fitch (ANF), consensus (34c)... Descartes Systems Group (DSGX), consensus 6c... JinkoSolar (JKS), consensus 40c... Fred's (FRED), consensus (1c)... Xcerra (XCRA), consensus 7c... Titan Machinery (TITN), consensus (22c).
13:56 EDTTECDTech Data technical comments ahead of results
Subscribe for More Information
May 19, 2015
08:10 EDTTECDTech Data announces agreement with Barracuda Networks
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use