Tech Data Challenging 52-Week High (TECD)

Posted in pre-market 
November 23rd, 2009

Tech Data Corp. (NASDAQ: TECD) beat earnings and is challenging 52-week highs.  The technology and communications products distribution giant posted $0.84 EPS on a 9.5% drop in revenues to $5.64 billion.  Estimates from Thomson Reuters were $0.71 EPS and $5.33 billion in revenues.  The company it also sees Q4 sales higher in the low to mid single digits rather than an expected slight drop.  At 8:47 AM EST this has only traded about 9,000 shares, but shares are up at $45.00.  The prior 52-week trading range was $14.14 to $44.63 and average volume is about 750,000 shares.


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