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Stock Market & Financial Investment News

News Breaks
May 29, 2014
11:46 EDTTECD, IM, AVT, PCCCTech Data falls after Q1 profit trails expectations
Shares of Tech Data (TECD), a wholesale distributor of technology products, are falling after the company's first quarter profit significantly trailed analysts' consensus estimate. WHAT'S NEW: This morning, Tech Data reported Q1 adjusted earnings per share of 72c and revenue of $6.73B, compared to expectations of 92c and $6.48B, respectively. The company forecast Q2 revenue growth in the low- to mid-single-digits, compared to consensus of $6.57B. The company expects Q2 gross margin percentage to be in-line with recent levels. ANALYST REACTION: This morning, research firm Raymond James said weakness in Tech data represented a buying opportunity. PRICE ACTION: In late morning trading, Tech Data fell $2.37, or about 3.8%, to $60.57 on nearly twice its average daily trading volume. Despite today's pull back, the stock is up about 21% over the past twelve months. OTHERS TO WATCH: Other companies that distribute technology products include Ingram Micro (IM), Avnet (AVT), and PC Connection (PCCC).
News For TECD;IM;AVT;PCCC From The Last 14 Days
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October 24, 2014
09:34 EDTIM, IMIngram Micro upgraded to Outperform from Underperform at CLSA
October 23, 2014
16:23 EDTPCCCPC Connection reports Q3 EPS 46c, consensus 42c
Reports Q3 revenue $639.6M, consensus $612.53M.
16:15 EDTIMIngram Micro sees Q4 EPS 95c-$1.02, consensus 97c
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16:14 EDTIMIngram Micro reports Q3 EPS 62c, consensus 62c
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15:30 EDTIMNotable companies reporting after market close
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08:08 EDTAVTAvnet sees Q2 adjusted EPS $1.15-$1.25 , consensus $1.18
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08:06 EDTAVTAvnet reports Q1 adjusted EPS $1.02, consensus 97c
Reports Q1 revenue $6.8B, consensus $6.71B
October 21, 2014
10:00 EDTPCCCOn The Fly: Analyst Initiation Summary
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06:29 EDTPCCCPC Connection initiated with a Neutral at B. Riley
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