Tech Data Corp. (TECD) announced after the bell Thursday that it will restate its previously issued quarterly financial statements for the fiscal years 2011, 2012, and 2013. The restatement is meant to correct improprieties related to how the company's U.K. subsidiary reflected vendor accounting.
Tech Data gapped open sharply lower Friday, but was range-bound for the majority of the session. The stock closed down by 3.55 at $46.00 on above average volume. Tech Data dropped to over a 2-month low and fell below its 200-day moving average.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.