Now consolidation is ebbing, and Arrow--and rival Avnet in Phoenix--look a lot like hamsters on wheels.
Avnet shares rallied Wednesday after the company unveiled plans for an aggressive stock repurchase plan.
Electronics distributor Avnet this morning reported better-than-expected profits for its fiscal fourth quarter ended July 2.
FORBES: Avnet Q4 EPS Beats; Q1 Profit View Light; $500M Buyback
Avnet said revenue was up 3.6% on a pro forma basis adjusting for acquisitions, and flat adjusting for currency.
FORBES: Avnet FY Q1 Revs In Line; EPS Slightly Light; Strong Guidance
Some of these companies include Active Storage, BlueArc, DataDirect Networks, EditShare, Facilis and Rorke Data (now part of Avnet).
But Hamada says that Avnet now finds itself with having excess liquidity.
In an interview with Forbes today, Avnet CEO Rick Hamada noted that revenues for the quarter faced some currency headwind in the quarter.
Nothing that odd about a buyback, but in this case this is the first time Avnet is repurchasing stock in at least a decade.
Like Arrow, Avnet has two primary businesses: they resell a wide range of components to electronics manufacturers, and they sell computing products to corporate IT departments.
FORBES: Avnet's Big Quarter Suggests Tech Demand Is Alive And Well
Production systems from Quanta Computer and Tyan are expected to be available through Avnet Electronics Marketing, Penguin Computing and other system integrators before the end of Q1.
ENGADGET: AMD unveils Open 3.0: an Opteron 6300 platform for the Open Compute Project
The movie, written by Russell Gewirtz and directed by Jon Avnet, is nonsense about a serial killer who leaves behind poems at the scene of the crime.
As I noted earlier, the electronics distribution giant Avnet today reported surprisingly strong December quarter profits, despite revenues that were just a hair below Street estimates.
The two acting legends have come under fire for making questionable "payday" movie choices like Pacino's critically panned "88 Minutes" -- also produced by Lerner and directed by Avnet.
Shares of electronics distributors Avnet (AVT) and Arrow (ARW) are trading sharply higher following bullish comments on the stocks this morning by Stifel Nicolas analyst Matthew Sheerin.
FORBES: Arrow, Avnet Rally; Stifel Turns Bullish On Distributors
Hamada notes that adjusting for currency, Avnet expects top-line sequential growth of 4.2% for the electronics marketing segment, at the low end of the normal sequential improvement in the 4%-7% range.
Consider, for instance, Avnet, the tech distribution giant.
FORBES: Update: Avnet CEO Sees More Growth In Corporate IT Spending
In the latest sign of weakness in U.S. IT spending, the electronics distribution giant Avnet warned that results for its fiscal first quarter ended September will be well below previous expectations.
FORBES: Avnet Warns On Sept. Qtr; Shares Down; Arrow Also Falls
Avnet shares are down sharply on the news.
FORBES: Avnet Warns On Sept. Qtr; Shares Down; Arrow Also Falls
Avnet shares are trading modestly higher Thursday morning after the electronics distribution giant posted results for its fiscal first quarter ended September 29 that were weaker than a year ago, but modestly above recently reduced guidance.
FORBES: Avnet FY Q1 Profits Inch Past Revised Guidance; Shrs Gain
Among the largest underlying components of FXL, in trading today Western Digital Corp. ( NASD: WDC) is off about 1.9%, Avnet Inc ( NYSE: AVT) is down about 2.1%, and Arrow Electronics, Inc. ( NYSE: ARW) is lower by about 2.2%.
FORBES: First Trust Technology AlphaDEX Fund Experiences Big Outflow
Really a computer program installed on a Compaq (nyse: CPQ - news - people) Alphaserver platform, the KnowledgeBox is being sold through Avnet (nyse: AVT - news - people), the Phoenix-based electronics distribution giant, as a search service.
He reduces his forecasts and stock targets for 14 companies, including not only Arrow, but also Avnet, Ingram Micro, Tech Data, Synnex, Molex, Amphenol, Sensata, Tyco Electronics, Jabil, Flextronics, Sanmina and Motorola Solutions.
FORBES: Goldman Now Wary On Tech Supply Chain; Downgrades Arrow
Avnet said the weak profit forecast reflects the lower revenue in the technology solutions group, lower profits margins in the Western regions in electronics marketing due to a weaker sales environment, and a greater-than-expected mix shift in electronics market, with better sales in the lower-margin Asia region more offset by weaker sales in higher-margin Western regions.
FORBES: Avnet Warns On Sept. Qtr; Shares Down; Arrow Also Falls
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