Tech Data CorporationNASDAQ
Tech Data Worth Owning, Just Wait For A Better Price
Tue, Nov. 22, 12:53 PM
- Tech Data (TECD +4.5%) reports net sales rose 4% on a constant currency basis in Q3.
- The Americas net sales grew 2% to $2.6B.
- Europe net sales increased 1% to $3.9B.
- Gross margin rate flat Y/Y at 4.9%.
- Adjusted SG&A expense rate improved 17 bps to 3.62%.
- Adjusted operating margin rate expanded 15 bps to 1.25%.
- Q4 Guidance: Net sales: $7.4B to $7.6B; Tax rate: 27% to 29%; Adjusted EPS: $2.11 to $2.21; Shares outstanding: 35.5M.
Tue, Nov. 22, 6:03 AM
Mon, Nov. 21, 5:30 PM
Mon, Oct. 24, 11:07 AM
- Tech Data Corporation (NASDAQ:TECD) announced an exclusive agreement with Kony, to rapidly deliver turnkey mobile applications to its network of solution providers in the United States through the company’s Client and Mobile Solutions division.
- Kony is extending its market-leading platform to help organizations of all sizes build innovative and omni-channel applications with speed, agility, and security.
- Added Bob Dutkowsky, CEO of Tech Data. “As the adoption of mobile applications for business use continues to expand, we are pleased to add Kony’s solutions to our portfolio and help our partners offer cutting-edge mobile application development, from design to launch. Kony’s customized solutions enable consumers to take an important step forward in the digital transformations of their businesses.”
- “Whether you are a $50 million or $5 billion company, embracing digital and mobile is an imperative for business success and survival in this new digital era,” said Thomas E. Hogan, chairman and chief executive officer of Kony, Inc. “This offering combines the strength of the Tech Data customer base with Kony’s market-leading platform to simply and predictably deliver low-cost, best-in-class mobile applications.”
- Source: Press Release
Tue, Sep. 27, 1:11 PM
- Tech Data Corporation (NASDAQ:TECD) announced an agreement with KnowBe4 to offer security awareness training services to its network of solution providers in North America through the company’s Security and Information Management business unit.
- “Our agreement with KnowBe4 enables our partners to offer comprehensive security awareness training services at a time when cybersecurity is a growing concern and priority for all organizations,” said Tracy Holtz, director, Security and Information Management at Tech Data. “Innocent human error brings on vulnerabilities that are not detectable through even the strongest security defenses. KnowBe4’s services help organizations of all sizes address the weakest link—human error. Adding KnowBe4 to our security portfolio is part of our continual effort to provide enhanced security opportunities, while enabling our solution providers to protect their customers.”
- Press Release
Mon, Sep. 19, 12:57 PM
Mon, Sep. 19, 7:10 AM
- Under the terms of the agreement, Avnet (NYSE:AVT) will receive $2.4B in cash and 2.8M shares of Tech Data (NASDAQ:TECD) common stock currently valued at about $200M.
- "Moving forward, Avnet will focus its resources and investments on becoming a leader in design chain and supply chain services," says newish CEO William Amelio.
- Avnet expects to book a gain of $3.75-$4.75 per share upon closing (anticipated in H1 of next year). For Tech Data's part, the deal is expected to be significantly accretive to non-GAAP EPS in the first year after closing.
- An Avnet conference call is set for 11:30 ET. A Tech Data conference call is set for 8:30 ET.
- AVT +2% premarket
Thu, Aug. 25, 6:01 AM
Wed, Aug. 24, 5:30 PM
Tue, Jul. 19, 10:39 AM
- Tech Data (TECD) appointed Bob Kruger to Vice President, StreamOne and he will be reporting to John Tonnison, the company’s EVP, Cloud Computing and Chief Information officer. Previously, he served as the Chief Executive Officer of Apakau, Inc.
- Kruger will be responsible for the inspiration, direction, and management of the consulting, technical, and agile development teams for StreamOne across the company’s worldwide operations.
- “He brings an outstanding depth of commercial software development leadership with prestigious software innovators like Microsoft, Cisco, and BMC, combined with a passion for the new horizon and born-in-the-cloud Silicon Valley community. Bob’s background is perfectly matched to the success and ambition of Tech Data’s StreamOne portfolio of cloud and digital-age subscription, consumption, provisioning, and business management tools to help our partners master their journeys to the cloud,” said John Tonnison.
- Press Release
Thu, May 26, 6:02 AM
- Tech Data (NASDAQ:TECD): Q1 EPS of $1.05 beats by $0.11.
- Revenue of $5.96B (+1.2% Y/Y) misses by $40M.
Wed, May 25, 5:30 PM
Mon, May 2, 1:15 PM
- Citi's Jim Suva has downgraded Arrow Electronics (ARW -4.9%) and Avnet (AVT -2.3%) to Sell from Buy, Tech Data (TECD -4.5%) to Sell from Neutral, and Synnex (SNX -1.6%) to Neutral from Buy.
- Suva states research indicates the majority of IT budget increases aren't being devoted to "traditional IT hardware" as cloud adoption grows - recent earnings data from IT giants point in the same direction - and thinks resellers will have to make cloud acquisitions that are less accretive than past deals involving traditional IT firms.
- He adds Arrow's Q1 report (due on Tuesday morning) is likely to feature weak guidance, and that the May 5 Global Technology Distribution Conference is likely to show the cloud shift has accelerated.
Thu, Mar. 3, 6:05 AM
- Tech Data (NASDAQ:TECD): Q4 EPS of $2.29 beats by $0.20.
- Revenue of $7.49B (+2.0% Y/Y) beats by $380M.
Wed, Mar. 2, 5:30 PM
Wed, Feb. 17, 7:07 PM
- Tech Data (NASDAQ:TECD) is up 3.7% after hours to $69.44 following news fellow IT product distributor Ingram Micro is being acquired by Chinese logistics firm Tianjin Tianhai for $6B, or a 31% premium to Ingram's Wednesday close.
- Synnex (NYSE:SNX) is up 1.1% to $90.00. Arrow Electronics (NYSE:ARW) is up 0.9% to $56.65.