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Research Reports Initiation on Services Stocks -- Best Buy, GameStop, Avnet, and Arrow Electronics
[March 20, 2017]

Research Reports Initiation on Services Stocks -- Best Buy, GameStop, Avnet, and Arrow Electronics

NEW YORK, March 20, 2017 /PRNewswire/ --

The Services sector produces intangible goods, and is comprised of various service industries including warehousing and truck transportation services; information sector services; and commodities, securities other investment services, among many others. Ahead of today's trading session, scans the following equities: Best Buy Co. Inc. (NYSE: BBY), GameStop Corp. (NYSE: GME), Avnet Inc. (NYSE: AVT), and Arrow Electronics Inc. (NYSE: ARW). Learn more about these stocks by downloading their free report at:

Best Buy

Last Friday, shares in Richfield, Minnesota headquartered Best Buy Co. Inc. ended the session 2.79% higher at $45.74. The stock recorded a trading volume of 6.91 million shares, which was above its three months average volume of 4.61 million shares. The Company's shares have advanced 7.19% since the start of this year. The stock is trading 3.05% and 17.16% above its 50-day and 200-day moving averages, respectively. Moreover, shares of Best Buy, which operates as a retailer of technology products, services, and solutions in the US, Canada, and Mexico, have a Relative Strength Index (RSI) of 55.75.

On March 01st, 2017, Best Buy announced a new $3 billion share repurchase plan expected to be completed over the next two years; and a 21% increase in the regular quarterly dividend to $0.34 per share, effective immediately. The regular quarterly dividend will be payable on April 12th, 2017, to shareholders of record as of the close of business on March 22nd, 2017.

On March 02nd, 2017, research firm RBC Capital Markets reiterated its 'Sector Perform' rating on the Company's stock with an increase of the target price from $42 a share to $46 a share. The free research report on BBY is available at:


Grapevine, Texas headquartered GameStop Corp.'s stock gained 1.57%, to close the day at $24.64. A total volume of 5.43 million shares was traded, which was above their three months average volume of 2.49 million shares. The Company's shares are trading 0.86% above their 50-day moving average. Additionally, shares of GameStop, which operates as an omnichannel video game retailer, have an RSI of 50.85.

On March 13th, 2017, research firm Telsey Advisory Group downgraded the Company's stock rating from 'Outperform' to 'Market Perform' while revising its previous target price from $28 a share to $27 a share. The complimentary report on GME can be downloaded at:


Shares in Phoenix, Arizona headquartered Avnet Inc. recorded a trading volume of 1.63 million shares at the close of the last trading session, which was above their three months average volume of 985,290 shares. The stock ended the day 0.37% lower at $46.05. The Company's shares are trading above their 200-day moving average by 6.54%. Furthermore, shares of Avnet, which together with its subsidiaries, distibutes electronic components, enterprise computer, networking and storage products and software, IT solutions and services, and embedded subsystems in the Americas, Europe, the Middle East, Africa, and the Asia/Pacific, have an RSI of 50.03.

On March 01st, 2017, research firm Goldman downgraded the Company's stock rating from 'Neutral' to 'Sell'.

On March 13th, 2017, Avnet announced that it has been recognized as a 2017 World's Most Ethical Company® for the fourth consecutive year by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. Every year Ethisphere honors those companies who recognize their role in society to influence and drive positive change, consider the impact of their actions on their employees, investors, customers, and other key stakeholders, and use their values and culture as an underpinning to the decisions they make every day. Visit us today and download our complete research report on AVT for free at:

Arrow Electronics

Centennial, Colorado-based Arrow Electronics Inc.'s shares finished Friday's session 0.35% higher at $75.35. A total volume of 825,359 shares was traded, which was above their three months average volume of 588,300 shares. The stock has advanced 2.39% in the last one month, 4.77% in the previous three months, and 5.68% on an YTD basis. The Company's shares are trading above their 50-day and 200-day moving averages by 2.88% and 11.88%, respectively. Furthermore, shares of Arrow Electronics, which provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide, have an RSI of 61.02.

On March 09th, 2017, Cypress Semiconductor, a leader in wireless internet-of-things (IoT) solutions, and Arrow Electronics announced an expanded collaboration to jointly enable IoT innovations. Arrow will leverage Cypress' industry-leading portfolio of IoT connectivity solutions to help its customers in the industrial, retail, life-sciences, and smart-cities sectors develop and bring seamless, comprehensive IoT solutions to market. Cypress' WICED® IoT development platform supports the industry's leading IoT-focused wireless connectivity portfolio with market-proven Wi-Fi® solutions, including high-performance 802.11ac solutions and combo solutions. Get free access to your technical report on ARW at:


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