Tech Data Corp. (TECD) reported third quarter EPS of $1.28 Tuesday morning, compared to $1.18 a year ago. The consensus estimate was for EPS of $1.39.
Tech Data gapped open sharply lower Tuesday, but recovered some ground in the first 45 minutes of trade. The stock was range-bound for the remainder of the session and closed down by 7.64 at $68.09 on above average volume. Tech Data dropped to its lowest level since early October and fell below its 50-day moving average.
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