Movement Alert｜CDW Corp Falls 11.93% in Regular Trading, Technology Distributors Sector Under Broad Pressure

Market Focus10-31 00:16

On October 31, CDW Corp fell 11.93% in Regular Trading, trading at $146.975/share, with Turnover of $178 million.

The most recent market information points to broad weakness across the Technology Distributors group rather than a new company-specific catalyst. In the same sector, Synnex fell 8.64%, Insight Enterprises fell 6.85%, Arrow Electronics fell 7.5%, Avnet fell 6.49%, and Ingram Micro Holding Corp. fell 1.5%.

Earlier company news showed CDW planned to acquire data and artificial intelligence services firm Lovelytics for about $525 million, with management saying the deal was not expected to have a material impact on results and was expected to close in the third quarter. CDW last reported quarterly results on August 5, when adjusted EPS of $2.91 and sales of $6.572 billion both exceeded market estimates, but that was not the latest catalyst tied to this move.

(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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