Movement Alert｜Avnet Falls 5.57% in Regular Trading, shares pressured despite earnings and guidance beating expectations

Market Focus11-05 23:49

On November 5, Avnet fell 5.57% in Regular Trading, trading at $80.995/share, with turnover of $32.4296 million.

The key disclosed catalyst is the company’s latest quarterly report: fiscal first-quarter adjusted EPS was $3.63, above consensus estimates of $2.86 to $2.88, while revenue of $10.718 billion exceeded expectations of about $9.196 billion to $9.22 billion.

Avnet also guided fiscal second-quarter adjusted EPS to $3.90-$4.10 on revenue of $11.1 billion-$11.4 billion, both above market expectations of about $2.97 and $9.42 billion. Even with results and guidance both ahead of expectations, the stock still came under pressure during the session.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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