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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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September 23, 2014
08:11 EDTTECDTech Data expands relationship with IBM
Tech Data (TECD) announced an expanded distribution agreement with IBM (IBM) to offer SoftLayer technologies to its channel of solution providers throughout the U.S. and Europe. The announcement was made in conjunction with Tech Data's Channel Link event.
08:09 EDTIMIngram Micro announces new strategies for its data capture/POS business
Ingram Micro announced its data capture/POS business' five new strategic technology pillars: payments, mobility, networking, omni-channel retailing, and Software-as-a-Service solutions for its channel partner value-add. Ingram Micro also named industry expert Jeff Yelton as the new executive director and general manager of its North America data capture/POS business. Yelton brings more than 30 years of channel and industry-specific experience to Ingram Micro, and previously served as the president of ScanSource POS and Barcode.
September 22, 2014
08:05 EDTIMIngram Micro signs U.S. agreement with IBM's SoftLayer
Ingram Micro Cloud, a global division of Ingram Micro (IM), announced a new relationship with SoftLayer, an IBM company (IBM). Under the U.S. agreement, Ingram Micro is expanding its relationship with IBM and now offers SoftLayer cloud services to its mutual channel partners within the U.S. As part of the new relationship, Ingram Micro will be able to market, sell and support SoftLayer cloud services and drive solutions and cross-selling opportunities within its partner community and the Ingram Micro Cloud Marketplace. As a master Cloud Services Provider, Ingram Micro will also offer its cloud onboarding capabilities, marketing support, as well as end-to-end technical and operational support to its channel partners focused on building cloud solutions.

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