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TD SYNNEX Corporation - SNX STOCK NEWS

Welcome to our dedicated page for TD SYNNEX Corporation news (Ticker: SNX), a resource for investors and traders seeking the latest updates and insights on TD SYNNEX Corporation stock.

TD SYNNEX Corporation (NASDAQ: SNX) is a prominent global player in IT distribution and business services. Established in 1980, the company has evolved into a $10.4 billion giant with over 53,000 associates worldwide. Recognized for its excellence, TD SYNNEX was ranked No. 260 on the Fortune 500 list in 2014.

The company's primary operations are divided into two key segments: Technology Solutions and Global Business Services. In the Technology Solutions segment, TD SYNNEX collaborates with over 300 leading technology manufacturers, facilitating the distribution of their products through a network of more than 20,000 value-added resellers, primarily in North America. Key product categories include IT systems, peripherals, system components, software, networking, and consumer electronics. Esteemed vendor partners include HP, Intel, Panasonic, Microsoft, Lenovo, Seagate, among others.

TD SYNNEX also excels in providing comprehensive business process outsourcing services. These services encompass technical support, renewals management, demand generation, direct sales, customer service, back-office processing, and IT outsourcing. These offerings position TD SYNNEX as a vital partner for many companies looking to streamline their operations and enhance efficiency.

The company's geographical segments cover the Americas, Europe, and APJ (Asia-Pacific and Japan), ensuring a widespread market presence and the capability to serve a diverse client base.

Recent Achievements and Projects

  • TD SYNNEX continues to innovate in the IT ecosystem, aggregating and distributing hardware, software, and systems including personal computing devices, mobile phones, printers, server and datacenter infrastructure, hybrid cloud solutions, security, networking, communications, and storage solutions.
  • The company has maintained strong partnerships and expanded its product offerings to meet evolving market demands.
  • Ongoing projects emphasize the enhancement of their IT distribution channels and the expansion of their global business services portfolio.

TD SYNNEX's commitment to excellence and innovation makes it a pivotal entity in the IT and business services sectors, with a significant impact on the market and a promising outlook for future growth.

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TD SYNNEX Corporation announces pricing of secondary public offering of common stock
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TD SYNNEX announces proposed secondary public offering of common stock
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TD SYNNEX launches ISV Acceleration Program to support software vendors in high-growth IT markets
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TD SYNNEX to be exclusive distributor for Meta's new suite of business products, including Meta Quest 3 headset and Meta for Work portfolio. Products promise to reshape meetings, trainings, collaborations, and creation with Metaverse technology. Quest 3 available to partners on Oct 10, Meta for Work launches globally on Oct 24. Rollouts across Europe to follow. Positive for TD SYNNEX as they champion cutting-edge technology.
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Cloudflare announces general availability of Cloudflare One, its single-vendor SASE platform, addressing security and networking transformation needs without complexity. Organizations shifting to single-vendor SASE platforms. Cloudflare One improves network and security staff efficiency, reduces attack surface, enhances user experience, and provides control over IT environments. Cloudflare's Magic WAN Connector is now available on Cloudflare One. TD SYNNEX adds Cloudflare's solution to its security offerings.
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The 2023 Direction of Technology Report highlights the growing interest in AI and the resilience of technology resellers despite market uncertainty. Key findings include a 625% increase in partners offering AI/ML solutions, with high-growth technologies like cloud, AI and IoT, cybersecurity, and hyperscale infrastructure dominating partner offerings. Security is the top technology sold, followed by networking, servers and storage, and hybrid cloud. Skills gaps are evident, with managed services and security being the top skills needed. IT spending delivered by partners is estimated to reach 73% in 2023, with cybersecurity being the most partner-delivered technology. 77% of channel partners report revenue growth, achieved by shifting business models and offerings. Sales of product lifecycle services, owned IP, and resale of packaged services have risen by 150% to 200%. The number of managed service providers has increased significantly. ESG management is important to 37% of partners, with 38% performing ESG through hybrid or outsourced partnerships.
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TD SYNNEX announces the appointments of Kathy Crusco and Claude Pumilia to its board of directors, expanding the board from 11 to 13 members. Their expertise in strategic, high-growth technologies will drive innovation and contribute to TD SYNNEX’s success. Crusco is an experienced CFO and board member with a history in software and unified communications industries. Pumilia brings extensive experience leading software and data services companies. The appointments aim to accelerate the adoption of new high-growth technologies globally.
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TD SYNNEX Capital introduces Amplify, a new short-term credit program for U.S. customers with extended payment terms, aiming to provide more credit capacity to partners and streamline the buying experience. Partners can choose their own net terms on eligible orders, with extended payment terms of 45, 60, 75, or 90 days. The program is expected to strengthen customer offerings and support business goals.
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Spin.AI partners with TD SYNNEX to offer SpinOne SaaS security platform worldwide, reducing security and compliance risks. SpinOne includes SaaS Security Posture Management, ransomware detection, data leak prevention, and backup. It helps organizations reduce time and costs associated with SaaS security risks and compliance. SpinOne integration elevates TD SYNNEX's SaaS security solutions.
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TD SYNNEX announces revenue of $14.0 billion for Q3 FY23, meeting expectations. Non-GAAP gross billings of $18.6 billion, also in line with outlook. Net income of $139 million, above outlook. Diluted EPS of $1.49, exceeding expectations. Cash provided by operations of $592 million. Returned $136 million to shareholders. Americas revenue decreased by 10.3%. Europe revenue decreased by 9.7%. Asia-Pacific and Japan revenue increased by 10.3%. Q4 2023 outlook: Revenue of $14.0 - $15.0 billion. Non-GAAP gross billings of $18.5 - $19.7 billion. Net income of $116 - $162 million. Diluted EPS of $1.25 - $1.75.
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FAQ

What is the current stock price of TD SYNNEX Corporation (SNX)?

The current stock price of TD SYNNEX Corporation (SNX) is $118.83 as of September 19, 2024.

What is the market cap of TD SYNNEX Corporation (SNX)?

The market cap of TD SYNNEX Corporation (SNX) is approximately 10.1B.

What does TD SYNNEX Corporation do?

TD SYNNEX Corporation is a global leader in IT distribution and business services, providing hardware, software, system components, and outsourcing services.

Who are TD SYNNEX's key vendor partners?

TD SYNNEX partners with major technology manufacturers like HP, Intel, Panasonic, Microsoft, Lenovo, and Seagate.

What segments does TD SYNNEX operate in?

TD SYNNEX operates in Technology Solutions and Global Business Services segments.

What types of business services does TD SYNNEX offer?

TD SYNNEX offers business process outsourcing services such as technical support, renewals management, demand generation, direct sales, customer service, back-office processing, and IT outsourcing.

In which geographical regions does TD SYNNEX operate?

TD SYNNEX operates in the Americas, Europe, and APJ (Asia-Pacific and Japan).

When was TD SYNNEX Corporation founded?

TD SYNNEX Corporation was founded in 1980.

What is the value of TD SYNNEX Corporation?

TD SYNNEX Corporation is valued at approximately $10.4 billion.

How many associates does TD SYNNEX have?

TD SYNNEX has over 53,000 associates worldwide.

What recent achievements has TD SYNNEX made?

TD SYNNEX has been innovating in the IT ecosystem, expanding its product offerings, and enhancing its distribution and business services channels.

Where can I find the latest news about TD SYNNEX?

You can find the latest news about TD SYNNEX on their official website and various financial news platforms.

TD SYNNEX Corporation

NYSE:SNX

SNX Rankings

SNX Stock Data

10.13B
85.46M
11.14%
88.52%
2.27%
Electronics & Computer Distribution
Wholesale-computers & Peripheral Equipment & Software
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United States of America
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