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Fly News Breaks for May 6, 2019
SCSC
May 6, 2019 | 09:34 EDT
As previously reported, Northcoast downgraded Scansource (SCSC) to Neutral from Buy to reflect a decline in business with Zebra Technologies (ZBRA), its largest vendor. Analyst Keith Housum's research indicates a decline of 8% in Zebra's business versus Q3, combined with Honeywell's (HON) destocking efforts, which is putting additional pressures on working capital requirements and sales. Housum reduced his Q3 revenue estimate to $915M from $952M and earnings to 76c from 81c.
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