Movement Alert｜WESCO International Rises 14.62% in Pre-Market Trading, Completion of Newark Engineering Acquisition Expands Data Center Business

Market Focus07-02

On July 2, WESCO International rose 14.62% in pre-market trading, trading at $340.46 per share, with turnover of $51,600. The rally was driven by the company's announcement that it has officially completed its $136 million acquisition of Singapore-based Newark Engineering Group.

Newark Engineering specializes in temperature control systems and lifecycle services for data centers. Following the close, WESCO will expand its access to hyperscale, enterprise, and colocation data center clients while increasing wallet share through cross-selling electrical, communications, and supply chain offerings across Newark's installed base. The deal also strengthens WESCO's presence in the Southeast Asia region.

The acquisition aligns with broader positive momentum for the company. In Q1, WESCO reported adjusted EPS of $3.37, beating the consensus estimate of $2.78 by over 21%, while revenue of $6.08 billion also surpassed expectations. Management subsequently raised full-year guidance to an adjusted EPS range of $15.00–$17.00. DA Davidson recently initiated coverage with a Buy rating and a $440 price target, well above the current trading level.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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