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HEXUS.sharewatch: Great week for distributors

by Scott Bicheno on 4 May 2009, 07:00

Tags: Ingram Micro (NYSE:IM), Avnet (NYSE:AVT), Computer 2000

Quick Link: HEXUS.net/qar3e

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After a bit of a wobble last week, all three indices on our list showed positive gains once more last week.

One reason for this prolonged spell of investor optimism is the growing evidence that the bottom of the market may have been reached. Following the massive corrections of the past two quarters, any sign of stability and predictability, let alone growth, is likely to provide uplift to share prices.

Broadline distributor Ingram Micro announced its quarterly results last week and, while revenue and profit were both down on a year ago, they exceeded analyst expectations.

"With the recession now affecting all regions, we do not expect a pick-up in sales for several more months, perhaps for the remainder of the year," said Ingram CEO Greg Spierkel. "However, we don't feel the market getting worse at this stage and expect second-quarter sales to follow a historical seasonal pattern."

Fellow disties Avnet and Tech Data have also shown significant rises. They will have benefitted from the aforementioned relative optimism and evidence of continuing innovation like Avnet's new on-demand video service won't have done them any harm either.

 

Company Listing Share price 13/4/09 Share price 20/4/09 Share price 26/4/09 Share price 3/5/09 7-day change Market cap (bn)
AMD AMD 3.75 3.56 3.51 3.82 8.8% 2.55
Apple AAPL 119.57 123.42 123.90 127.24 2.7% 113.51
Avnet AVT 18.82 19.57 18.96 22.19 17.0% 3.35
Dell DELL 10.76 11.06 11.05 11.85 7.2% 23.12
Google GOOG 372.50 392.24 389.49 393.69 1.1% 124.29
HP HPQ 34.43 36.30 35.80 36.52 2.0% 87.52
IBM IBM 101.70 101.27 100.08 104.61 4.5% 138.23
Ingram Micro IM 13.22 13.64 13.65 15.63 14.5% 2.53
Intel INTC 15.98 15.60 15.62 15.81 1.2% 88.30
Microsoft MSFT 19.67 19.20 20.91 20.24 -3.2% 180.13
Nvidia NVDA 12.04 11.76 11.43 11.67 2.1% 6.36
Tech Data TECD 23.64 26.27 26.51 29.00 9.4% 1.45
Yahoo YHOO 13.47 14.39 14.73 14.14 -4.0% 19.71
Dow .DJI 8083.38 8131.33 8076.29 8212.41 1.7% N/A
FTSE 100 .FTSE 3983.71 4061.80 4155.99 4243.22 2.1% N/A
NASDAQ .IXIC 1652.54 1673.07 1694.29 1719.20 1.5% N/A


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