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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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March 20, 2015
10:00 EDTTECDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actuant (ATU) downgraded at Stifel... American Capital Mortgage (MTGE) downgraded to Hold from Buy at Wunderlich... Campus Crest (CCG) downgraded at RBC Capital... Care.com (CRCM) downgraded to Neutral from Overweight at JPMorgan... Electrolux AB (ELUXY) downgraded to Neutral from Overweight at JPMorgan... Ericsson (ERIC) downgraded to Equal Weight from Overweight at Morgan Stanley... Extreme Networks (EXTR) downgraded at Raymond James... PrivateBancorp (PVTB) downgraded to Market Perform from Outperform at BMO Capital... TD Ameritrade (AMTD) downgraded to Neutral from Buy at Goldman... Tableau (DATA) downgraded at Mizuho... Tech Data (TECD) downgraded to Hold from Buy at Needham... Tesoro (TSO) downgraded at Wells Fargo... Ultra Clean (UCTT) downgraded to Hold from Buy at Needham... Vince Holding (VNCE) downgraded to Neutral from Overweight at Piper Jaffray... Youku Tudou (YOKU) downgraded to Sell from Hold at Deutsche Bank.
08:09 EDTTECDTech Data downgraded on balanced risk/reward at Needham
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07:47 EDTTECDTech Data downgraded to Hold from Buy at Needham
07:23 EDTTECDTech Data price target lowered to $63 from $73 at Brean Capital
Brean Capital lowered its price target on Tech Data to $63 from $73 citing soft European revenues. The firm remains positive on the stock due to higher growth and margin opportunities and reiterated its Buy rating on Tech Data shares.
March 19, 2015
06:08 EDTTECDTech Data reports Q4 non-GAAP EPS $1.96, consensus $2.03
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06:07 EDTTECDTech Data sees Q1 revenue growth in low single digits, consensus $6.29B
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