Channel Stocks: Gainers And Losers
The stock markets were on a roll following the November election and through much of the first quarter – what some called the "Trump bull market." The Dow Jones Industrial Average was up 4.56 percent in the first quarter while the NASDAQ was up an impressive 9.82 percent.
How did publicly held solution provider companies fare? It was a nearly even split with 14 of the companies on our channel watch list recording stock price gains in Q1 and 13 seeing declines – several by hefty double-digit percentages.
Here's a look at who was up and who was down for the quarter, starting with companies with the biggest gains in share price, based on stock closing prices on Dec. 30, 2016 and March 31, 2017.
Reflecting the ever-changing makeup of the IT industry in 2016, two companies previously on this list have been dropped because they were acquired: Datalink, which was acquired by Insight Enterprises; and Ingram Micro, which was acquired by HNA. New to the Channel Stocks watch list are Conduent, CSRA, Presidio and West Corp.
Note: On April 3 CSC merged with Hewlett Packard Enterprise's enterprise service organization to create DXC. This analysis includes the final trading price for CSC stock on March 31 and our channel stock analysis for the 2017 second quarter will replace CSC with DXC.