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Avnet Inc (AVT)

AVT on New York Consolidated

47.39USD
7 Dec 2016
Change (% chg)

$0.70 (+1.50%)
Prev Close
$46.69
Open
$46.72
Day's High
$47.46
Day's Low
$46.70
Volume
983,836
Avg. Vol
974,962
52-wk High
$47.46
52-wk Low
$37.10

Latest Key Developments (Source: Significant Developments)

Avnet reports Q1 earnings per share $0.53
Thursday, 27 Oct 2016 07:00am EDT 

Avnet Inc : Reports first quarter fiscal year 2017 results . Qtrly earnings per share $0.53 . Qtrly adjusted earnings per share $0.91 . Qtrly adjusted sales $6 billion versus $7 billion last year . Q2 sales are expected to be in range of $4.2 billion to $4.5 billion .Q2 adjusted diluted earnings per share is expected to be in range of $0.69 to $0.79 per share.  Full Article

Avnet entered into amendment and waiver to the senior unsecured bridge credit agreement
Monday, 24 Oct 2016 05:27pm EDT 

Avnet Inc : Avnet Inc says on October 24, 2016, co entered into amendment and waiver to the senior unsecured bridge credit agreement, dated as of July 27, 2016 . Avnet Inc- Bridge amendment extended draw down period for tranche B bridge loans to December 5, 2016- SEC filing .Avnet Inc - In addition, company terminated tranche A-1 commitments under bridge credit agreement, effective October 24, 2016.  Full Article

Tech Data Corp to acquire Technology Solutions Business from Avnet for $2.6 Bln
Monday, 19 Sep 2016 07:00am EDT 

Tech Data Corp : Tech Data Corporation to acquire Technology Solutions Business from Avnet for $2.6 billion . Tech Data also expects to realize approximately $200 million in present value of tax benefits . Tech Data expects to achieve annual cost savings of approximately $100 million within two years after closing . Intends to finance cash portion of consideration through combination of cash on hand, drawings under existing revolver, proceeds from a new loan facility and senior notes . Transaction is expected to close in first half of calendar 2017 . Deal for for $2.4 billion in cash and 2.785 million shares of Tech Data common stock . Transaction is expected to be significantly accretive to Tech Data's non-GAAP earnings per share in first year after closing . To finance deal cash portion through cash, drawings under revolver, proceeds from new term loan facility, senior notes .BofA Merrill Lynch is serving as lead financial advisor and Raymond James and associates is also serving as financial advisor to Tech Data.  Full Article

Avnet updates financing arrangements on Premier Farnell deal
Friday, 16 Sep 2016 02:00am EDT 

Avnet Inc : Term loan credit agreement provides for a single borrowing by borrowers of up to 500 mln euros .Updated its financing arrangements in respect of acquisition of Premier Farnell.  Full Article

Avnet enters a senior unsecured term loan credit agreement with Avnet Holding Europe BVBA
Thursday, 15 Sep 2016 05:40pm EDT 

Avnet Inc : Proceeds from borrowings under term loan credit agreement will be used to finance a portion of cash consideration among others . Obligations of lenders to fund loans under term loan credit agreement expires on February 27, 2017 . Avnet inc says on September 14, 2016 co entered into a senior unsecured term loan credit agreement with Avnet Holding Europe BVBA .Term loan credit agreement provides for single borrowing by borrowers of up to eur 500 million in aggregate with a maturity date of 3 years.  Full Article

Avnet says U.S. clears Premier Farnell deal
Thursday, 8 Sep 2016 03:53am EDT 

Avnet: U.S. FTC granted early termination of waiting period required under Hart-Scott-Rodino Antitrust Improvements Act 1976 for Premier Farnell deal (Bengaluru Newsroom: +91 80 6749 1136).  Full Article

Avnet names William Amelio as CEO - SEC filing
Wednesday, 7 Sep 2016 06:43am EDT 

Avnet Inc :Says on September 6 co appointed William Amelio as Chief Executive Officer.  Full Article

Avnet says its receivables purchase agreement amended
Friday, 19 Aug 2016 06:02am EDT 

Avnet Inc : Says entered into amendment No. 9 to second amended and restated receivables purchase agreement - SEC filing . Amendment decreases amount of receivables in which co may sell undivided interest, on revolving basis, from $900 million to $800 million .Amendment extends expiration date of accounts receivable program to august 19, 2018.  Full Article

Avnet reports Q4 earnings per share $0.75
Wednesday, 10 Aug 2016 07:00am EDT 

Avnet Inc : Avnet reports fourth quarter and fiscal year 2016 results . Q4 earnings per share $0.75 . Sees Q1 2017 adjusted earnings per share $0.84 to $0.94 . Sees Q1 2017 EM sales are expected to be in range of $3.9 billion to $4.2 billion . Sees Q1 2017 TS sales are expected to be in range of $1.9 billion to $2.2 billion . Q1 2017 earnings per share view $0.86, revenue view $6.14 billion -- Thomson Reuters I/B/E/S . Q4 adjusted earnings per share $0.86 . Q4 sales $6.2 billion versus I/B/E/S view $6.21 billion . Sees Q1 2017 sales $5.8 billion to $6.4 billion .Q4 earnings per share view $0.88 -- Thomson Reuters I/B/E/S.  Full Article

Fitch says Avnet's ratings unaffected by potential Premier Farnell deal
Tuesday, 2 Aug 2016 10:28am EDT 

Fitch:Fitch: Avnet's ratings unaffected by potential Premier Farnell acquisition.  Full Article

BRIEF-Avnet acquires Hackster Inc

* Avnet acquires Hackster Inc. Source text for Eikon: Further company coverage: