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Showing posts with label TECD. Show all posts
Showing posts with label TECD. Show all posts

Friday, November 29, 2019

=Tech Data (TECD): to be acquired by Apollo Global Management for $145/sh, up from the previous price of $130


  • Berkshire had bid $140


Tech Data enters into an amendment to its agreement to be acquired by funds managed by affiliates of Apollo Global Management (APO) at an increased consideration amount of $145/share



  • Co announced that it has entered into an amendment (the "Amendment") to its previously announced definitive agreement (the "Original Agreement") in which Tiger Midco, LLC ("Parent"), an affiliate of funds managed by affiliates of Apollo Global Management (NYSE: APO), will acquire all of the outstanding shares of Tech Data common stock. The Amendment provides that the consideration to be received by holders of Tech Data common stock has been increased to $145 per share in cash from $130 per share in cash, among certain other changes.
  • The Amendment was unanimously approved by the Board of Directors of Tech Data, and the revised purchase price represents an 11.5 percent increase in the price per share of Tech Data's common stock provided in the Original Agreement. The revised purchase price also represents a 30.2 percent premium to the unaffected closing share price of Tech Data's common stock ended Oct. 15, 2019, the last trading day prior to published market speculation regarding a potential transaction involving Tech Data. The revised transaction has an enterprise value of approximately $6.0 billion.
  • Wednesday, November 13, 2019

    =Tech Data (TECD) to be acquired by Apollo (APO) for $130/share



    Tech Data enters definitive agreement to be acquired by funds managed by affiliates of Apollo Global Management (APO) for $130/share

  • Co announced it has entered into a definitive agreement to be acquired by an affiliate of funds managed by affiliates of Apollo Global Management (APO), a global alternative investment manager.
  • Through the agreement, the affiliate of the Apollo Funds will acquire all of the outstanding shares of Tech Data common stock for $130 per share in a transaction with an enterprise value of approximately $5.4 bln.
  • Following the close of the transaction, Rich Hume will continue to lead Tech Data as chief executive officer, and the company will continue to be headquartered in Clearwater, Florida. Tech Data will become a privately held company, and Tech Data's common shares will no longer be publicly listed.
  • Friday, October 18, 2019

    This week's biggest % winners & losers : Oct 14 - 18, 19 (wk 42)

    The following are this week's top percentage gainers and losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

    This week's top % gainers
    • Healthcare: RETA (184.91 +93%), ASMB (15.05 +72.79%), ENDP (4.88 +31.58%), DERM (7.16 +25.83%), RVNC (15.17 +24.55%), AKRX (4.61 +17.9%), QTNT (8.47 +15.24%), AUPH (4.71 +14.74%)
    • Materials: OSB (26.38 +14.85%)
    • Consumer Discretionary: HMHC (5.85 +27.04%), TEN (13.01 +15.13%)
    • Information Technology: TECD (124.03 +15.36%)
    • Energy: MDR (2.35 +15.2%)

    This week's top % losers
    • Consumer Discretionary: GIL (26.28 -24.46%)
    • Information Technology: COUP (127.89 -18.7%), APPN (41.48 -17.85%), ESTC (71.22 -16.45%), OKTA (98.56 -15.21%), PAGS (38.85 -14.95%), AYX (95.4 -14.49%), MDB (116.86 -14.27%)
    • Energy: PUMP (7.91 -16.12%), QEP (2.71 -15.84%), PDCE (21.2 -15.79%), BCEI (18.76 -15.5%), SRCI (3.45 -14.81%), CRC (7.55 -14.69%), CDEV (3.19 -13.78%)

    Wednesday, October 16, 2019

    Tech Data (TECD) : Apollo (APO) buyout interest?

    Private equity firm Apollo Global Management LLC is potentially interested in buying Tampa Bay's largest public company, according to a Tuesday report from Reuters.


     


     ** TECD charts **

     







    New York-based Apollo has approached Clearwater-based Tech Data Corp. (NASDAQ: TECD) with an offer to acquire the company for close to $5 billion. Reuters sources people familiar with the matter.

    A spokesman for Tech Data said the company does not provide comment on market rumors or speculation.

    Apollo is offering to pay $130 per share in cash for Tech Data, according to the report. Tech Data's stock closed at $111.34 on Tuesday. Shares jumped more than 13 percent after hours as the news broke Tuesday evening, settling at $126.50 per share.

    Check back for more as this is a developing story.

    The tech manufacturing company reported $37.24 billion revenue in 2018. The company employs over 2,100 people locally and 14,000 companywide, according to Tampa Bay Business Journal research.

    In August, Tech Data posted increased earnings with net income up 27 percent to $98.6 million in the fiscal second quarter. At the time, Tech Data’s CEO Rich Hume credited the growth to the company’s portfolio and ability to follow demand. Read more here about Tech Data's second quarter earnings.

    Thursday, May 31, 2018

    Tech Data (TECD) reported earnings on Thur 31 May 2018 (b/o)

    ** charts before earnings **



     




    ** charts after earnings **




     







    Tech Data beats by $0.37, beats on revs; guides Q2 revs above consensus 
    • Reports Q1 (Apr) earnings of $1.84 per share, $0.37 better than the Capital IQ Consensus of $1.47; revenues rose 21.6% year/year to $8.54 bln vs the $8.13 bln Capital IQ Consensus.
    • Co issues guidancefor Q2, sees EPS of $1.95-2.25 vs. $2.10 Capital IQ Consensus Estimate; sees Q2 revs of $8.6-8.9 bln vs. $8.58 bln Capital IQ Consensus Estimate.

    Friday, March 9, 2018

    This week's biggest % winners & losers : March 5 - 9, 18 (wk 10)

    This week's biggest % gainers/losers The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

    This week's top 20 % gainers
    • Healthcare: ZSAN (17.25 +126%), ADRO (8.75 +35.66%), GEN (1.62 +30.65%), ATRS (2.79 +27.4%), NTLA (34.95 +27.18%), RGNX (36 +22.45%), PGNX (8.1 +21.08%), CLDX (2.82 +21.03%), ACHN (4.23 +20.51%), PDLI (3.04 +19.69%), TSRO (68.12 +18.1%)
    • Industrials: ERII (8.47 +26.23%)
    • Consumer Discretionary: RCII (8.62 +18.08%)
    • Information Technology: BZUN (47.88 +34.19%), CHUBK (22.41 +27.77%), NTNX (49.1 +26.31%), CHUBA (22.41 +21.07%), ADSK (139.36 +19.85%)
    • Telecommunication Services: NIHD (1.71 +33.59%)

    This week's top 20 % losers
    • Healthcare: DERM (9.43 -62.52%), SPPI (18.67 -13.4%), MYOK (53.05 -13.18%), OTIC (5.03 -11.84%)
    • Industrials: HDSN (5.44 -12.48%)
    • Consumer Discretionary: FTD (4.65 -24.59%), TRNC (14.76 -24.5%), ASNA (2.01 -17.62%), DFRG (15.4 -17.43%), BIG (48.45 -13.93%), JCP (3.27 -11.86%), DLTR (92.7 -11.22%)
    • Information Technology: TECD (89.98 -13.94%), PRGS (40.38 -13.01%)
    • Energy: PEIX (3.35 -14.1%)
    • Consumer Staples: BRFS (8.11 -13.91%), KR (24.08 -11.96%), BGS (26 -11.86%)

    Thursday, March 8, 2018

    Tech Data (TECD) reported earnings on Thur 8 March 2018 (b/o)

    ** charts after earnings **









    Tech Data beats by $0.01, beats on revs 
    • Reports Q4 (Jan) earnings of $3.50 per share, $0.01 better than the Capital IQ Consensus of $3.49; revenues rose 49.3% year/year to $11.09 bln vs the $10.57 bln Capital IQ Consensus.
    • Co issuesguidance for Q1, sees EPS of $1.30-1.60, may not be comparable to $1.97 Capital IQ Consensus Estimate; sees Q1 revs of $8.0-8.3 bln, may not be comparable to $8.52 bln Capital IQ Consensus Estimate.
      • The co notes, the Business Outlook for worldwide net sales provided below is based on the new revenue recognition standard that the Company adopted as of February 1, 2018

    Saturday, September 2, 2017

    This week's biggest % winners & losers : Aug 28 - Sept 1, 17 (wk 35)

    The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

    This week's top 20 % gainers
    • Healthcare:JUNO(41.92 +36.41%),BLUE(130.85 +33.73%), BLCM(10.72 +29.47%),KITE(178.05 +28%),CLLS(32.18 +27.75%),ADAP(6.58 +26.3%),CRIS(2.09 +25.15%),NTLA(21.51 +23.2%),ITCI(18.67 +22.27%),IMMU(12.59 +21.29%),MNKD(1.87 +20.65%),CORT(16.8 +19.74%)
    • Industrials:AVAV(49.15 +26.58%),BW(2.72 +23.08%),HEES(24.70 +21.73%),HTZ(20.74 +20.44%)
    • Consumer Discretionary:EROS(12.25 +33.88%)
    • Information Technology:HIMX(10.46 +20.79%)
    • Energy:CLMT(8.40 +28.24%)
    This week's top 20 % losers
    • Healthcare:OTIC(3.6 -82.04%),ACOR(21.70 -13.72%),CO(13.32 -9.2%)
    • Materials:FRTA(3.34 -27.07%)
    • Industrials:TITN(12.10 -22.54%)
    • Consumer Discretionary:BNED(5.51 -21.06%),FINL(8.89 -16.68%),GCO(23.2 -16.4%),BBY(54.48 -11.94%),HRB(26.77 -9.9%),VRA(9.09 -9.46%),AOBC(16.52 -8.63%)
    • Information Technology:AMBA(42.24 -20.27%),TECD(87.46 -17.82%),UBNT(58.97 -8.79%)
    • Financials:GNBC(20.4 -8.93%)
    • Energy:FRO(5.00 -11.03%)
    • Consumer Staples:CPB(45.4 -11.67%),SFM(19.89 -8.93%)
    • Utilities:EBR(5.61 -10.38%)

    Thursday, August 31, 2017

    Tech Data (TECD) reported earnings on Thur 31 August 2017 (b/o)

    ** charts before earnings **



     


    ** charts after earnings **

     




    Tech Data misses by $0.32, beats on revs; guides Q3 EPS below consensus, revs above consensus
    • Reports Q2 (Jul) earnings of $1.74 per share, excluding non-recurring items, $0.32 worse than the Capital IQ Consensus of $2.06; revenues rose 39.8% year/year to $8.88 bln vs the $8.74 bln Capital IQ Consensus.
      • Co issues mixed guidancefor Q3, sees EPS of $1.84-2.04, excluding non-recurring items, vs. $2.23 Capital IQ Consensus Estimate; sees Q3 revs of $9.0-9.35 bln vs. $8.71 bln Capital IQ Consensus Estimate
    • "Our fiscal 2018 first-half results clearly show the enhanced earnings and cash-generating power of the new Tech Data. In Q2, worldwide sales exceeded plan and our teams maintained disciplined cost controls; however, we did not deliver the earnings we expected in the quarter," said Robert M. Dutkowsky, chairman and chief executive officer. "Tech Data is a stronger company today than it was a year ago. With the addition of Technology Solutions, we now have a richer portfolio of advanced technology vendors and customers, along with deeper skills to serve them. At the same time, we continue to accelerate the expansion of our capabilities in next-generation technologies. Our integration is progressing as planned and we are on track to deliver our synergy and debt reduction targets."

    Tuesday, July 18, 2017

    TECD — is it a sell?

    • July 18:  Is TECD a sell?




    • 2 weeks later:  YES -- pullback to 50 ma support line

    Monday, September 19, 2016

    Tech Data (TECD) to acquire Avnet Inc.'s (AVT) Technology Solutions

    Tech Data Corp. on Monday announced that it would acquire Avnet Inc.'s Technology Solutions business unit in what its CEO called a "transformative transaction."

     



    • AVT



    Tech Data, a global IT distributor based in Clearwater, FL, said the transaction was valued at $2.6 billion — $2.4 billion in cash and 2.785 million shares of Tech Data common stock, based on a 15-day weighted average closing stock price. The stock represents a 7 percent ownership share of Tech Data.

    When the transaction is complete — it's expected to close within the first calendar half of 2017 — Tech Data will be a $35 billion company with more than 14,000 employees, spokesman Brian Kosoy said Monday.

    With the acquisition, Tech Data's data center business will have an immediate presence in the Asia-Pacific region. Once the deal closes — expected within the first calendar half of 2017 — Tech Data's data center footprint will expand from 21 to 35 countries worldwide. Of that, Europe comprises 53 percent of the company’s $35 billion anticipated revenues from the transaction, the Americas, 44 percent; and Asia-Pacific, 3 percent.

    Technology Solutions currently does business with 40 IT vendors around the world, addressing the IT business needs of 20,000 customers in more than 80 countries. Tech Data has similar relationships with more than 600 vendors and 105,000 customers. As a combined company, the two will be able to offer more solutions to a more diversified customer base.

    Tuesday, August 30, 2016

    TECD — is it a buy?

    • Aug. 30:  Is TECD a buy?




    • 3 weeks later: NO