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Stock Market & Financial Investment News

News Breaks
May 29, 2014
11:46 EDTPCCC, TECD, AVT, IMTech 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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January 22, 2015
08:07 EDTAVTAvnet sees Q3 adjusted EPS $1.04-$1.14, consensus $1.15
Sees Q3 sales $6.6B-$7.2B, consensus $6.93B. Q3 EM sales are expected to be in the range of $4.15B-$4.45B and TS sales are expected to be in the range of $2.45B-$2.75B.
08:05 EDTAVTAvnet reports Q2 adjusted EPS $1.27, consensus $1.21
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January 21, 2015
15:27 EDTAVTNotable companies reporting before tomorrow's open
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