HEXUS.sharewatch: mixed fortunes for distributors

US and UK markets dropped slightly in the past week, with the Dow and NASDAQ down around two percent and the FTSE faring a bit worse.

Most technology companies more or less followed this trend, but the three distributors on our list bucked the trend - two positively and one negatively.

Avnet and Ingram Micro saw their shares gain by 5.4 and 4.1 percent respectively, in spite of Avnet downwardly revising its forecast and Ingram having its credit rating downgraded, so go figure.

Tech Data (Computer 2000 in the UK) reported its third quarter earnings a couple of weeks ago and while they were down, year-on-year, that was expected in the current economic climate and its shares didn't suffer immediately. Tech Data did subsequently reveal it's taking a sizable hit on currency fluctuations, so maybe that's part of the reason.

Elsewhere AMD's roller-coaster ride continues with a share price drop of nearly ten percent. This is probably due to its announcement that it expects sales to be 25 percent down on the previous quarter. The only other two companies to show a gain, albeit a small one, were Apple and Yahoo!.