Tech Data Corp. (TECD) reported second quarter net income of $0.88 per share Tuesday morning, down from $1.10 per share in the previous year. The consensus estimate was for EPS of $1.17.
Tech Data gapped open lower Tuesday, but was range-bound throughout the session. The stock closed down by 2.91 at $49.24 on the highest volume of the year. Tech Data fell to a one-week low and dropped below its 200-day moving average.
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