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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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July 30, 2014
11:01 EDTAVTAvnet expands distribution relationship with HP into Mexico
Avnet Technology Solutions, an operating group of Avnet (AVT), announced that it will now distribute HPs (HPQ) data center-related products in Mexico, including enterprise technologies and software. Under this new agreement, Avnet will provide channel partners with a wide variety of resources to help them capture analytics, big data, cloud computing and converged infrastructure opportunities. To support this relationship, Avnet has formed an HP Solutions group in Mexico, a dedicated team focused on helping partners increase their data center sales with HP enterprise technologies and software.
July 24, 2014
16:36 EDTIMIngram Micro sees Q3 revenue up year-over-year in high single-digits
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16:34 EDTIMIngram Micro reports Q2 EPS 54c, consensus 52c
Reports Q2 revenue $10.91B, consensus $10.58B. North America and Europe revenues benefited from robust mobility distribution sales, strong sales of networking products and an uptick in demand for systems products, including PCs. Latin America revenue growth was driven by strong sales of advanced solutions in Brazil and strength in tablets in Mexico. Strong revenue growth in North America, Europe and Latin America was partially offset by declines in Asia Pacific driven primarily by lower handset sales in Indonesia and continued sales weakness in China related to lower sales of tablets and softer demand for some of the products and vendors the company carries. Gross margin and non-GAAP operating margin grew respectively by 3 and 2 basis points year-over-year, benefiting from a better overall mix of higher value business, which more than offset lower margin volume growth in consumer and retail markets in Europe and new mobility distribution wins in North America.
July 23, 2014
10:22 EDTIMIngram Micro expands device-recovery operations at Indiana returns center
Ingram Micro division Ingram Micro Mobility is expanding device-recovery service operations at a key returns center in Plainfield, Ind. to support the increasing demand for mobility device repair, refurbishment and recycling. Anticipated growth at this facility alone is expected to reach 15% this month.
July 21, 2014
16:03 EDTAVTMonolithic Power signs Avnet Memec as Pan-European as distributor
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13:04 EDTIMIngram Micro says Robert Laikin extends contract, expands role
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July 16, 2014
10:00 EDTIM, TECDOn The Fly: Analyst Upgrade Summary
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07:02 EDTTECDTech Data upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill upgraded Tech Data to Neutral citing PC strength.
07:02 EDTIMIngram Micro upgraded to Buy from Neutral at BofA/Merrill
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