Lowe"s Receives Upgrades From UBS and JP Morgan; Tech Data Beats

Lowe"s Receives Upgrades From UBS and JP Morgan; Tech Data Beats ....
Tech Data Corporation (TECD | charts | news | PowerRating) is up 6.5% on Wednesday morning to $37.43. TECD has a high PowerRating of 8. Tech Data, a distributor of IT products, announced financial results for its second quarter, reporting profit compared to a loss last year on 13.6% rise in net sales, boosted by strong sales in the Americas. On a non-GAAP basis, net income for the quarter increased over last year. Improvements in gross margin and cost control have also helped the company to earn higher profit. Further, the company provided sales guidance for its third quarter. TECD has a market cap of $2 billion. Lowe"s Companies (LOW | charts | news | PowerRating) is up 2.1% on Wednesday to $29.52 and has a high PowerRating of 8. Home improvement retailer, Lowe"s, received two analysts upgrades, citing lowered expectations for the company as well as its low share price.