Fly News Breaks for May 6, 2019
May 6, 2019 | 07:23 EDT
As previously reported, BofA/Merrill downgraded Arrow Electronics to Neutral from Buy and lowered its price target to $80. Analyst Param Singh believes operating margins "peaked" in C2018 and expects C2020 earnings growth to come from higher volume, low-margin components. The analyst also sees headwinds from an inventory correction and lower C2019 component operating margins and earnings from low margin fulfillment in Asia.
News For ARW From the Last 2 Days
Jul 15, 2019 | 18:58 EDT
UP AFTER EARNINGS: JB Hunt (JBHT) up 7.1%. ALSO HIGHER: Eyenovia (EYEN) up 6.0% after disclosing CEO bought 234K shares of stock... Viking Therapeutics (VKTX) up 1.2% after being initiated with Outperform at Oppenheimer. DOWN AFTER EARNINGS: Arrow Electronics (ARW) down 5.3% after below-consensus Q2 pre-announcement. ALSO LOWER: Anterix (ATEX) down 6.0% after equity offering... Repligen (RGEN) down 3.4% after equity offering... Medical Properties Trust (MPW) down 3.2% after equity offering. Movers as of 18:30ET.
Jul 15, 2019 | 16:07 EDT
Sees Q2 revenue $7.30B, consensus $7.61B.