Arrow Electronics (ARW) - Bull of the Day

Arrow Electronics Inc. (ARW) reported solid results for the second quarter driven by strong growth across all geographies and products. Estimates have been on the rise in the past sixty days.

Although the company faced tough times between late 2008/early 2009, performance has been improving steadily since then. We expect overall demand and margins to improve as volumes ramp up.

Management's guidance was encouraging with both the top and bottom lines poised to grow in the second half of 2010. In view of improved performance in the coming quarters, we upgrade our recommendation to Outperform from Neutral.
 
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