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Stock Market & Financial Investment News

News Breaks
May 29, 2014
11:46 EDTIM, PCCC, TECD, AVTTech 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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November 26, 2014
07:29 EDTTECDTech Data results add conviction to margin assumptions, says Brean Capital
Brean Capital said that Tech Data's solid results added conviction to the firm's long-term margin assumptions. The firm believes the company is well positioned for 2015, citing cost controls and operating leverage. Brean Capital reiterated its Buy rating and $73 price target on Tech Data shares.
November 25, 2014
06:03 EDTTECDTech Data sees Q4 sales growth of low single digit
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06:01 EDTTECDTech Data reports Q1 non-GAAP EPS 1.18, consensus $1.02
Reports Q1 revenue $6.76B, consensus $6.79B.
November 20, 2014
07:19 EDTIMUBS to hold a conference
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November 17, 2014
16:13 EDTPCCCPC Connection announces 40c per share special dividend
PC Connection announced that its board declared a special cash dividend of 40c per share payable on December 15, to shareholders of record at the close of business on December 1. The total amount of the special dividend payment will be approximately $10.5M based on the current number of shares outstanding.
November 13, 2014
10:01 EDTAVTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ATK (ATK) downgraded to Hold from Buy at Argus... Adeptus Health (ADPT) downgraded to Hold from Buy at Deutsche Bank... American Woodmark (AMWD) downgraded to Neutral from Buy at Longbow... Avnet (AVT) downgraded to Sell from Neutral at Goldman... Baxano Surgical (BAXS) downgraded to Sell from Buy at Summer Street... Beazer Homes (BZH) downgraded to Neutral from Overweight at JPMorgan... Bristol-Myers (BMY) downgraded to Equal Weight from Overweight at Morgan Stanley... Centene (CNC) downgraded to Market Perform from Outperform at FBR Capital... Cherry Hill Mortgage (CHMI) downgraded to Equal Weight from Overweight at Barclays... Discover (DFS) downgraded to Hold from Buy at Deutsche Bank... Fleetmatics (FLTX) downgraded to Neutral from Buy at BofA/Merrill... Gazprom (OGZPY) downgraded to Neutral from Overweight at JPMorgan... Jabil Circuit (JBL) downgraded to Neutral from Buy at Goldman... LabCorp (LH) downgraded to Hold from Buy at Deutsche Bank... Laredo Petroleum (LPI) downgraded at BMO Capital... Macy's (M) downgraded to Market Perform from Outperform at Wells Fargo... Madison Square Garden (MSG) downgraded to Equal Weight from Overweight at Morgan Stanley... Marvell (MRVL) downgraded to Sell from Neutral at Goldman... Meritor (MTOR) downgraded to Neutral from Overweight at Piper Jaffray... Swedbank (SWDBY) downgraded to Underperform from Sector Perform at RBC Capital... TransGlobe (TGA) downgraded to Sector Perform from Outperform at Scotia Capital... UIL Holdings (UIL) downgraded to Hold from Buy at Argus... Verint Systems (VRNT) downgraded to Fair Value from Buy at CRT Capital... ZAIS Financial (ZFC) downgraded to Equal Weight from Overweight at Barclays.
05:30 EDTAVTAvnet downgraded to Sell from Neutral at Goldman
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