Results Miss and Asset Impairment Push Arrow Off-Course; Lowering FVE to $85
On July 15, Arrow Electronics announced preliminary second-quarter results ahead of its official earnings call, lowering the revenue guidance by more than 5% from the previous midpoint and cutting adjusted earnings per share by more than 10% after macroeconomic uncertainty pushed performance off course. Management also announced plans to close the firm’s personal computer and mobility asset disposition business, resulting in $616 million in impairments and a loss in quarterly revenue of $78 mill...Arrow Electronics is a provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The company has two business segments, the global components business and the global enterprise computing solutions (ECS) business. The global components segment markets and distributes electronic components and provides customers with the ability to deliver technologies to the market through design engineering, global marketing and integration, global logistics, and supply chain management. The global ECS segment provides computing solutions and services, including data-center, cloud, security, and analytics solutions.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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