Why CDW Corporation Stock Just Tumbled 13%
Shares of CDW Corporation (NASDAQ: CDW) are down 13.3% Wednesday morning after the IT hardware and software distributor preannounced Q1 2023 sales numbers that fell far short of analyst predictions. Heading into the quarter -- where official results are due out before market open on May 3 -- analysts had been forecasting nearly $5.4 billion in sales for CDW (according to Yahoo! CDW hasn't said just yet.