Avnet Inc (AVT) 40.45 $AVT
Fitch Affirms Avnet's IDR at 'BBB-' on Technology Solutions Divestiture; Outlook Stable
BusinessWire - Thu Sep 22, 2:13PM CDT
Fitch Ratings has affirmed the Long-Term Issuer Default Rating of Avnet, Inc. (Avnet) at 'BBB-'. Fitch has also affirmed the 'BBB-' issue specific ratings assigned to the company's senior unsecured debt and revolving credit facility. The Rating Outlook remains Stable. The company reported approximately $2.5 billion of debt outstanding as of July 2, 2016. A complete list of rating actions follows at the end of this release.
AVT: 40.45 (-1.03), TECD: 87.31 (-1.19)
Avnet and Arizona State University Seek Nation's Next Technology Entrepreneurs
BusinessWire - Wed Sep 21, 10:00AM CDT
Avnet, Inc. (NYSE:AVT), a leading global technology distributor, in partnership with Arizona State University (ASU) and its Ira A. Fulton Schools of Engineering, is now accepting applications for the next class of entrepreneurs for the Avnet Innovation Lab. Launched in May 2016, the lab was created to spur economic growth and help aspiring technology entrepreneurs accelerate their ideas and take their inventions to the next level. Applications for the next Avnet Innovation Lab will be accepted through November 14, 2016 and are accessible at Avnet Innovation Lab.
AVT: 40.45 (-1.03)
Downgrade Alert for Avnet (AVT)
Comtex SmarTrend(R) - Wed Sep 21, 3:21AM CDT
Avnet (NYSE:AVT) was downgraded from Hold to Sell at Cross Research today. The stock closed yesterday at $40.33 on volume of 2.3 million shares, above average daily volume of 797,000. There is potential upside of 27.2% for shares of Avnet based on a current price of $40.33 and an average consensus analyst price target of $51.29. The stock should run into initial resistance at its 200-day moving average (MA) of $42.78 and subsequent resistance at its 50-day MA of $43.16.
AVT: 40.45 (-1.03)
Company News for September 20, 2016
Zacks Equity Research - Zacks Investment Research - Tue Sep 20, 9:25AM CDT
Companies In The News are: BLOX,AVT,TECD,SRPT,ISLE,ERI
ISLE: 22.89 (+0.02), ERI: 14.66 (+0.04), AVT: 40.45 (-1.03), SRPT: 57.83 (-3.14), BLOX: 26.35 (+0.03), TECD: 87.31 (-1.19)
Tech Data to Buy Avnet's IT Business: A Win-Win for Both?
Zacks Equity Research - Zacks Investment Research - Tue Sep 20, 9:21AM CDT
Avnet Inc. (AVT) will sell its Technology Solutions business to Tech Data Corporation (TECD) for a total consideration of $2.6 billion.
ARW: 63.67 (-1.06), IM: 34.86 (-0.17), AVT: 40.45 (-1.03), TECD: 87.31 (-1.19)
Blog Coverage Tech Data Acquires Technology Solutions Business from Avnet
ACCESSWIRE - Tue Sep 20, 8:17AM CDT
LONDON, UK / ACCESSWIRE / September 20, 2016 / Active Wall St. blog coverage looks at the headline from Tech Data Corporation (NASDAQ: TECD) as the company announced on September 19, 2016 that it has agreed to buy the Technology Solutions business from Avnet Inc. (NYSE: AVT). The deal is a combination of cash and shares of Tech Data and is valued at approximately $ 2.6 billion. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.
AVT: 40.45 (-1.03), TECD: 87.31 (-1.19)
SmarTrend Watching for Potential Pullback in Shares of Avnet After 7.80% Gain
Comtex SmarTrend(R) - Mon Sep 19, 1:27PM CDT
Avnet (NYSE:AVT) traded in a range yesterday that spanned from a low of $41.54 to a high of $42.87. Yesterday, the shares gained 7.8%, which took the trading range above the 3-day high of $39.82 on volume of 1.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
AVT: 40.45 (-1.03)
Tech Data Corporation to Acquire Technology Solutions Business from Avnet for $2.6 Billion
GlobeNewswire - Mon Sep 19, 6:00AM CDT
Transaction Creates Premier Global IT Distributor with the Most Diverse End-to-End Solutions from the Data Center to the Living Room
AVT: 40.45 (-1.03), TECD: 87.31 (-1.19)
Avnet Agrees to Sell Technology Solutions Business Unit to Tech Data for $2.6B
BusinessWire - Mon Sep 19, 6:00AM CDT
Avnet, Inc. (NYSE: AVT), a leading global technology distributor, today announced that it has entered into an agreement to sell its Technology Solutions operating group to Tech Data Corporation in a stock and cash transaction valued at approximately $2.6 billion. Under the terms of the agreement, Avnet will receive $2.4 billion in cash and 2.8 million shares of Tech Data common stock, currently valued at approximately $200 million.
AVT: 40.45 (-1.03), TECD: 87.31 (-1.19)
Almo Professional A/V Joins Global Technology Distribution Council
Marketwired - Thu Sep 15, 9:00AM CDT
ST. PETERSBURG, FL--(Marketwired - Sep 15, 2016) - The Global Technology Distribution Council continues to expand its membership with the addition of Philadelphia-based Almo Corp., the largest independent distributor of consumer electronics, professional audio/video equipment, appliances, furniture and housewares in the United States. Almo's pro A/V business -- the strategic focus for the company's GTDC engagement -- features highly skilled supply-chain management services, a broad pro A/V-focused product offering, training and education, as well as technical support options for solution provider channels. Operations include seven distribution centers across the U.S.
ARW: 63.67 (-1.06), ABC: 83.33 (-0.26), IM: 34.86 (-0.17), AVT: 40.45 (-1.03), SCSC: 36.29 (-0.04), TECD: 87.31 (-1.19), SNX: 106.68 (-1.55)
Avnet Government Solutions Adds Data and Information Software Solutions from Commvault to Its GSA Schedule
BusinessWire - Wed Sep 14, 10:00AM CDT
Avnet, Inc. (NYSE: AVT), a leading global technology distributor, today announced that Avnet Government Solutions, LLC, its wholly owned subsidiary focused on the U.S. public sector, is expanding its General Services Administration (GSA) schedule to include data and information software solutions from Commvault. Government partners will now be able to help organizations transform their data into powerful strategic assets, with data protection and information management solutions that enable them to protect, access and use all of their data - anywhere and anytime.
AVT: 40.45 (-1.03)
Riverbed SteelFusion Offers New Cloud and Virtual Options for Greater Flexibility in Deploying a Software-Defined Edge
BusinessWire - Tue Sep 13, 7:33AM CDT
Riverbed Technology, the application performance company, today announced it is offering Riverbed(R) SteelFusion(TM) in new cloud and virtual deployment options for greater customer choice and flexibility. SteelFusion, the leading software-defined edge solution, allows organizations to centralize distributed ROBO (remote office and brand office) IT infrastructure and operations in a data center, the cloud, or a hybrid combination for better management, security, agility, and cost-effectiveness.
AVT: 40.45 (-1.03)
Datical Adds Talent to Build on Success
BusinessWire - Thu Sep 08, 8:00AM CDT
Datical, the leading provider of agile database automation solutions, is carrying momentum forward from a significant increase in subscription revenue over the first half of 2016 by welcoming a new strategic advisor and expanding its management team and board.
AVT: 40.45 (-1.03)
GTDC Appoints Arrow Electronics CEO Mike Long as Chairman
Marketwire Canada - Thu Sep 08, 7:00AM CDT
BURLINGAME, CA--(Marketwired - Sep 8, 2016) - GTDC SUMMIT N.A. -- The Global Technology Distribution Council (GTDC) today announced that it has appointed Michael Long, chairman, president and CEO of Arrow Electronics, Inc., as the organization's new chairman. Long succeeds SYNNEX president and CEO Kevin Murai, whose two-year term ends this month. Long was voted in at the GTDC's annual Board Meeting and Summit North America conference, Sept. 7-8, in Burlingame, Calif.
ARW: 63.67 (-1.06), ABC: 83.33 (-0.26), IM: 34.86 (-0.17), AVT: 40.45 (-1.03), SCSC: 36.29 (-0.04), TECD: 87.31 (-1.19), SNX: 106.68 (-1.55)
GTDC Summit Convenes Record Number of Channel Leaders, Distribution CEOs and Emerging Cloud Companies
Marketwired - Thu Sep 08, 7:00AM CDT
Rising Stars, Analysts and Database Experts Contribute to 'Knowledge Forum' Underscoring Growing Value and Momentum of Distributors in the Digital Era
ARW: 63.67 (-1.06), ABC: 83.33 (-0.26), IM: 34.86 (-0.17), AVT: 40.45 (-1.03), SCSC: 36.29 (-0.04), TECD: 87.31 (-1.19), SNX: 106.68 (-1.55)
Avnet Names William Amelio as CEO
BusinessWire - Tue Sep 06, 10:00AM CDT
Avnet, Inc. (NYSE: AVT), a leading global technology distributor, today announced that William ("Bill"
J. Amelio has been appointed Chief Executive Officer of the company by the Board of Directors, effective immediately. Mr. Amelio has been acting in the role of interim CEO of Avnet since July 11, 2016. Having spent most of his career in senior roles managing global technology enterprises and publicly traded companies, he brings more than 35 years of management and industry experience to Avnet.
AVT: 40.45 (-1.03)
Fitch Affirms Avnet's IDR at 'BBB-' on Technology Solutions Divestiture; Outlook Stable
BusinessWire - Thu Sep 22, 2:13PM CDT
Fitch Ratings has affirmed the Long-Term Issuer Default Rating of Avnet, Inc. (Avnet) at 'BBB-'. Fitch has also affirmed the 'BBB-' issue specific ratings assigned to the company's senior unsecured debt and revolving credit facility. The Rating Outlook remains Stable. The company reported approximately $2.5 billion of debt outstanding as of July 2, 2016. A complete list of rating actions follows at the end of this release.
AVT: 40.45 (-1.03), TECD: 87.31 (-1.19)
Avnet and Arizona State University Seek Nation's Next Technology Entrepreneurs
BusinessWire - Wed Sep 21, 10:00AM CDT
Avnet, Inc. (NYSE:AVT), a leading global technology distributor, in partnership with Arizona State University (ASU) and its Ira A. Fulton Schools of Engineering, is now accepting applications for the next class of entrepreneurs for the Avnet Innovation Lab. Launched in May 2016, the lab was created to spur economic growth and help aspiring technology entrepreneurs accelerate their ideas and take their inventions to the next level. Applications for the next Avnet Innovation Lab will be accepted through November 14, 2016 and are accessible at Avnet Innovation Lab.
AVT: 40.45 (-1.03)
Downgrade Alert for Avnet (AVT)
Comtex SmarTrend(R) - Wed Sep 21, 3:21AM CDT
Avnet (NYSE:AVT) was downgraded from Hold to Sell at Cross Research today. The stock closed yesterday at $40.33 on volume of 2.3 million shares, above average daily volume of 797,000. There is potential upside of 27.2% for shares of Avnet based on a current price of $40.33 and an average consensus analyst price target of $51.29. The stock should run into initial resistance at its 200-day moving average (MA) of $42.78 and subsequent resistance at its 50-day MA of $43.16.
AVT: 40.45 (-1.03)
Company News for September 20, 2016
Zacks Equity Research - Zacks Investment Research - Tue Sep 20, 9:25AM CDT
Companies In The News are: BLOX,AVT,TECD,SRPT,ISLE,ERI
ISLE: 22.89 (+0.02), ERI: 14.66 (+0.04), AVT: 40.45 (-1.03), SRPT: 57.83 (-3.14), BLOX: 26.35 (+0.03), TECD: 87.31 (-1.19)
Tech Data to Buy Avnet's IT Business: A Win-Win for Both?
Zacks Equity Research - Zacks Investment Research - Tue Sep 20, 9:21AM CDT
Avnet Inc. (AVT) will sell its Technology Solutions business to Tech Data Corporation (TECD) for a total consideration of $2.6 billion.
ARW: 63.67 (-1.06), IM: 34.86 (-0.17), AVT: 40.45 (-1.03), TECD: 87.31 (-1.19)
Blog Coverage Tech Data Acquires Technology Solutions Business from Avnet
ACCESSWIRE - Tue Sep 20, 8:17AM CDT
LONDON, UK / ACCESSWIRE / September 20, 2016 / Active Wall St. blog coverage looks at the headline from Tech Data Corporation (NASDAQ: TECD) as the company announced on September 19, 2016 that it has agreed to buy the Technology Solutions business from Avnet Inc. (NYSE: AVT). The deal is a combination of cash and shares of Tech Data and is valued at approximately $ 2.6 billion. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.
AVT: 40.45 (-1.03), TECD: 87.31 (-1.19)
SmarTrend Watching for Potential Pullback in Shares of Avnet After 7.80% Gain
Comtex SmarTrend(R) - Mon Sep 19, 1:27PM CDT
Avnet (NYSE:AVT) traded in a range yesterday that spanned from a low of $41.54 to a high of $42.87. Yesterday, the shares gained 7.8%, which took the trading range above the 3-day high of $39.82 on volume of 1.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
AVT: 40.45 (-1.03)
Tech Data Corporation to Acquire Technology Solutions Business from Avnet for $2.6 Billion
GlobeNewswire - Mon Sep 19, 6:00AM CDT
Transaction Creates Premier Global IT Distributor with the Most Diverse End-to-End Solutions from the Data Center to the Living Room
AVT: 40.45 (-1.03), TECD: 87.31 (-1.19)
Avnet Agrees to Sell Technology Solutions Business Unit to Tech Data for $2.6B
BusinessWire - Mon Sep 19, 6:00AM CDT
Avnet, Inc. (NYSE: AVT), a leading global technology distributor, today announced that it has entered into an agreement to sell its Technology Solutions operating group to Tech Data Corporation in a stock and cash transaction valued at approximately $2.6 billion. Under the terms of the agreement, Avnet will receive $2.4 billion in cash and 2.8 million shares of Tech Data common stock, currently valued at approximately $200 million.
AVT: 40.45 (-1.03), TECD: 87.31 (-1.19)
Almo Professional A/V Joins Global Technology Distribution Council
Marketwired - Thu Sep 15, 9:00AM CDT
ST. PETERSBURG, FL--(Marketwired - Sep 15, 2016) - The Global Technology Distribution Council continues to expand its membership with the addition of Philadelphia-based Almo Corp., the largest independent distributor of consumer electronics, professional audio/video equipment, appliances, furniture and housewares in the United States. Almo's pro A/V business -- the strategic focus for the company's GTDC engagement -- features highly skilled supply-chain management services, a broad pro A/V-focused product offering, training and education, as well as technical support options for solution provider channels. Operations include seven distribution centers across the U.S.
ARW: 63.67 (-1.06), ABC: 83.33 (-0.26), IM: 34.86 (-0.17), AVT: 40.45 (-1.03), SCSC: 36.29 (-0.04), TECD: 87.31 (-1.19), SNX: 106.68 (-1.55)
Avnet Government Solutions Adds Data and Information Software Solutions from Commvault to Its GSA Schedule
BusinessWire - Wed Sep 14, 10:00AM CDT
Avnet, Inc. (NYSE: AVT), a leading global technology distributor, today announced that Avnet Government Solutions, LLC, its wholly owned subsidiary focused on the U.S. public sector, is expanding its General Services Administration (GSA) schedule to include data and information software solutions from Commvault. Government partners will now be able to help organizations transform their data into powerful strategic assets, with data protection and information management solutions that enable them to protect, access and use all of their data - anywhere and anytime.
AVT: 40.45 (-1.03)
Riverbed SteelFusion Offers New Cloud and Virtual Options for Greater Flexibility in Deploying a Software-Defined Edge
BusinessWire - Tue Sep 13, 7:33AM CDT
Riverbed Technology, the application performance company, today announced it is offering Riverbed(R) SteelFusion(TM) in new cloud and virtual deployment options for greater customer choice and flexibility. SteelFusion, the leading software-defined edge solution, allows organizations to centralize distributed ROBO (remote office and brand office) IT infrastructure and operations in a data center, the cloud, or a hybrid combination for better management, security, agility, and cost-effectiveness.
AVT: 40.45 (-1.03)
Datical Adds Talent to Build on Success
BusinessWire - Thu Sep 08, 8:00AM CDT
Datical, the leading provider of agile database automation solutions, is carrying momentum forward from a significant increase in subscription revenue over the first half of 2016 by welcoming a new strategic advisor and expanding its management team and board.
AVT: 40.45 (-1.03)
GTDC Appoints Arrow Electronics CEO Mike Long as Chairman
Marketwire Canada - Thu Sep 08, 7:00AM CDT
BURLINGAME, CA--(Marketwired - Sep 8, 2016) - GTDC SUMMIT N.A. -- The Global Technology Distribution Council (GTDC) today announced that it has appointed Michael Long, chairman, president and CEO of Arrow Electronics, Inc., as the organization's new chairman. Long succeeds SYNNEX president and CEO Kevin Murai, whose two-year term ends this month. Long was voted in at the GTDC's annual Board Meeting and Summit North America conference, Sept. 7-8, in Burlingame, Calif.
ARW: 63.67 (-1.06), ABC: 83.33 (-0.26), IM: 34.86 (-0.17), AVT: 40.45 (-1.03), SCSC: 36.29 (-0.04), TECD: 87.31 (-1.19), SNX: 106.68 (-1.55)
GTDC Summit Convenes Record Number of Channel Leaders, Distribution CEOs and Emerging Cloud Companies
Marketwired - Thu Sep 08, 7:00AM CDT
Rising Stars, Analysts and Database Experts Contribute to 'Knowledge Forum' Underscoring Growing Value and Momentum of Distributors in the Digital Era
ARW: 63.67 (-1.06), ABC: 83.33 (-0.26), IM: 34.86 (-0.17), AVT: 40.45 (-1.03), SCSC: 36.29 (-0.04), TECD: 87.31 (-1.19), SNX: 106.68 (-1.55)
Avnet Names William Amelio as CEO
BusinessWire - Tue Sep 06, 10:00AM CDT
Avnet, Inc. (NYSE: AVT), a leading global technology distributor, today announced that William ("Bill"
J. Amelio has been appointed Chief Executive Officer of the company by the Board of Directors, effective immediately. Mr. Amelio has been acting in the role of interim CEO of Avnet since July 11, 2016. Having spent most of his career in senior roles managing global technology enterprises and publicly traded companies, he brings more than 35 years of management and industry experience to Avnet. AVT: 40.45 (-1.03)
