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Avnet (AVT) and Arrow (ARW) shares are both trading higher after Brean Murray analyst Ananda Baruah raised his ratings on both of the electronics distribution companies to Buy from Hold. For both stocks, he has price targets of $33.

Avnet Inc. (AVT) reported revenues of $4.83 billion in the second quarter fiscal 2010, an increase of 13.2% year over year and 10% excluding the impact of changes in foreign currency exchange rates. On a pro forma (organic) basis, revenue was up 9.6% over the prior-year quarter.

Avnet (AVT), the electronics and IT products distribution giant, this morning posted revenue for its fiscal second quarter ended January 2 of $4.83 billion, up 13.2% from a year ago, and ahead of the Street at $4.55 billion. Non-GAAP EPS of 66 cents was nicely ahead of the Street at 59 cents.

For the March quarter, the company sees revenue of $4.1 billion to $4.7 billion; the mid-point of the range at $4,4 billion beats the Street at $4.31 billion. Avnet sees profits in the quarter of 53-61 cents a share; the Street has been looking for 52 cents.

<u>Industry Rank Analysis 12-30-09</u>

In evaluating the Zacks industry ranks, you want to see two things: both a good overall score (low, meaning more Zacks #1 and #2-ranked stocks than #4 or #5-ranked stocks) and some improvement in the relative position from the prior week. Due to the holidays, this column was not written last week, so the sector data in the table below is from two weeks ago (second data column) but when I discuss changes in the individual industry ranks, they are from last week.