Scalper1 News
CDW shares retreated on Wednesday, a day after the tech products reseller posted better-than-expected fourth-quarter results. CDW stock was down 1% to 36 in afternoon trading on the stock market today. On Tuesday, CDW rose to a record high of 37.25. The Vernon Hills, Ill.-based company earned 59 cents a share excluding items, up 9% year over year, on sales of $3.05 billion, up 12%, in Q4. Analysts were looking for 54 cents EPS on sales of $2.96 billion. CDW’s public sector business outperformed its corporate business last quarter. Sales to government, education and health care customers rose 17% in the fourth quarter. Meanwhile, CDW’s sales to small, medium and large companies increased nearly 9%. In addition to the positive Q4 results, the company’s overall demand and long-term expectations are solid, said RBC Capital Markets analyst Amit Daryanani. In a note Tuesday, Daryanani reiterated his outperform rating on CDW stock… Scalper1 News
Scalper1 News