New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 4, 2014
10:25 EDTSNX, IM, TECDSYNNEX 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
Check below for free stories on SNX;IM;TECD the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
September 22, 2014
08:05 EDTIMIngram Micro signs U.S. agreement with IBM's SoftLayer
Ingram Micro Cloud, a global division of Ingram Micro (IM), announced a new relationship with SoftLayer, an IBM company (IBM). Under the U.S. agreement, Ingram Micro is expanding its relationship with IBM and now offers SoftLayer cloud services to its mutual channel partners within the U.S. As part of the new relationship, Ingram Micro will be able to market, sell and support SoftLayer cloud services and drive solutions and cross-selling opportunities within its partner community and the Ingram Micro Cloud Marketplace. As a master Cloud Services Provider, Ingram Micro will also offer its cloud onboarding capabilities, marketing support, as well as end-to-end technical and operational support to its channel partners focused on building cloud solutions.
September 17, 2014
16:02 EDTSNXSYNNEX enters three-year sponsorship with PGA Tour player Bill Haas
SYNNEX announced a three-year sponsorship agreement with PGA Tour standout Bill Haas. In addition to the SYNNEX logo appearing on Haas' apparel at PGA Tour events, SYNNEX continues as the presenting sponsor of the Bill Haas Charity Classic, Haas' annual Pro-Am tournament in Greenville that benefits local charitable organizations.
September 16, 2014
09:59 EDTSNXOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
06:20 EDTSNXSYNNEX upgraded to Buy from Hold at Stifel
Stifel upgraded SYNNEX to Buy based on valuation. Price target is $71.

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