Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

ARROW ELECTRONICS, INC.

(ARW)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Arrow Electronics : McLaren Racing buys majority share of Arrow McLaren SP

08/08/2021 | 12:13pm EDT

NASHVILLE, Tenn. (AP) — McLaren Racing will buy a 75% share of the Arrow McLaren SP race team by the end of 2021 and plans to add a third car to its IndyCar lineup.

The deal, expected to close by the end of the year, comes midway through the second season of the McLaren Racing partnership with Schmidt Peterson Motorsports.

The team fields cars this season for Pato O'Ward, who was second in the points standings headed into Sunday's Music City Grand Prix, and Felix Rosenqvist. The team added two-time Indianapolis 500 winner Juan Pablo Montoya for the Indy 500; he drove two seasons for McLaren in Formula 1.

Zak Brown, the CEO of McLaren Racing, said Sunday he would like to add another full-time car in 2023 — perhaps as early as next season “if we can find the right combination.”

O’Ward and Rosenqvist will return next season. Taylor Kiel will continue to lead the day-to-day operations.

“I don't think there will be any substantial changes in how the racing team operates,” Brown said.

The team was founded by Sam Schmidt in 2001, with Ric Peterson joining in 2013 to form Schmidt Peterson Motorsports (SPM). McLaren returned to full-time IndyCar competition in 2020 after a 40-year absence and formed a partnership with title sponsor Arrow Electronics and SPM to create Arrow McLaren SP.

“This is the next logical step,” Schmidt said. “This is a total win-win.”

Schmidt said he was staying with the organization and the team name was not changing.

___

More AP auto racing: https://apnews.com/hub/auto-racing and https://twitter.com/AP_Sports

© 2021 The Canadian Press. All rights reserved., source Canadian Press DataFile

All news about ARROW ELECTRONICS, INC.
10/22ARROW ELECTRONICS : Recognized in Bourns' Annual Distributor Awards
PU
10/21ARROW ELECTRONICS : to Host Third-Quarter 2021 Earnings Conference Call
BU
10/19ARROW ELECTRONICS : Offers IMD Technologies (IMDT) System-on-Modules
PU
10/18ARROW ELECTRONICS : Signs Pan-European Agreement With Cloud Provider Scaleway
PU
10/11ARROW ELECTRONICS : Launches AI Thermal Sensing Solution Powered by STMicroelectronics' X-..
PU
09/19ARROW ELECTRONICS : commits to sponsor extension with McLaren
AQ
09/16ARROW ELECTRONICS : Announces Carol lowe as a New Director to Its Board (Form 8-K)
PU
09/16ARROW ELECTRONICS INC : Change in Directors or Principal Officers, Financial Statements an..
AQ
09/16ARROW ELECTRONICS : Announces Carol Lowe as a New Director to Its Board
BU
09/16Arrow Electronics, Inc. Announces Carol Lowe as a New Director to Its Board
CI
More news
Financials (USD)
Sales 2021 34 538 M - -
Net income 2021 973 M - -
Net Debt 2021 2 023 M - -
P/E ratio 2021 9,14x
Yield 2021 -
Capitalization 8 628 M 8 628 M -
EV / Sales 2021 0,31x
EV / Sales 2022 0,29x
Nbr of Employees 19 600
Free-Float 56,9%
Chart ARROW ELECTRONICS, INC.
Duration : Period :
Arrow Electronics, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ARROW ELECTRONICS, INC.
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Last Close Price 120,13 $
Average target price 126,00 $
Spread / Average Target 4,89%
EPS Revisions
Managers and Directors
Michael J. Long Chairman, President & Chief Executive Officer
Christopher David Stansbury Chief Financial Officer & Senior Vice President
Vincent P. Melvin Chief Information Officer & Senior Vice President
Sean J. Kerins Chief Operating Officer
Barry W. Perry Lead Independent Director
Sector and Competitors
1st jan.Capi. (M$)
ARROW ELECTRONICS, INC.23.46%8 628
NVIDIA CORPORATION74.08%567 241
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED13.21%557 443
BROADCOM INC.17.71%212 151
INTEL CORPORATION-0.72%201 154
TEXAS INSTRUMENTS22.64%183 783