Arrow Electronics ( (ARW) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Arrow Electronics shares came under pressure as investors weighed the impact of a major strategic move in its enterprise business. The company’s Enterprise Computing Solutions unit announced a new partnership with Akamai, a global provider of cloud and security services.
Through this deal, Arrow will offer Akamai’s cloud, security, and application-delivery tools across its channel ecosystem. The companies say the agreement is designed to speed up the rollout of enterprise-grade cloud and cybersecurity solutions to Arrow’s customers.
More about Arrow Electronics
YTD Price Performance: 33.63%
Average Trading Volume: 603,155
Technical Sentiment Signal: Strong Buy
Current Market Cap: $7.52B
For further insights into ARW stock on TipRanks’ Stock Analysis page.
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