News Review:Goldman Sachs Group, Inc. (NYSE:GS), Tech Data Corp (NASDAQ:TECD)

Lakeway, TX -- (SBWIRE) -- 03/05/2013 -- Bestdamnpennystocks, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

Goldman Sachs Group, Inc. (NYSE:GS) along with Citigroup Inc. (NYSE:C) raises alert about cyber attacks as the U.S. prodded banks and government agencies bolstering their defense.

Is GS a Buying Opportunity After The Recent Plunge? Don’t Miss Out Our Latest Report Here

Last week in an annual regulatory filing the firms said that online and mobile banking gave new points of entry that can be used to disrupt or penetrate operations by overloading websites to shut off public access.

"We are going to see more disclosures, and that's a warning sign that things are really getting bad," said Lawrence Ponemon, chairman of Ponemon Institute LLC, a Traverse City, Michigan-based security research firm, which predicts a 30% increase in expenses tied to cyber intrusions this year.

MasterCard Inc. (MA), the second-biggest U.S. payments processor, said in its February 14 annual filing the firm routinely receives threats, "and our technologies, systems and networks have been subject to cyber attacks."

A group calling itself Izz ad-Din al-Qassam Cyber Fighters has claimed responsibility for the most recent intrusions on U.S. banks.

Tech Data Corp (NASDAQ:TECD) shares fell by $8% to $48.80 after the company posted adjusted earnings of $1.48 per share well short of Wall Street expectation of $1.75.

How Should Investors Trade TECD After The Latest Earnings Report? Find Out Here

For the last quarter the Information technology products distributor net income surged by 53% to $82.5 million, or $2.17 per share including 69 cents per share for the release of a deferred tax valuation allowance in Europe.

CEO Robert Dutkowsky said of shifting from higher-margin products like servers, to lower-margin products such as tablets, cellular phones and software.

Revenue jumped by 5% to $7.46 billion surpassing Wall Street forecast revenue of $7.23 billion.

Gross margin declined by 3% to 5.09% because of the shift to lower-margin products.

For the fiscal year net income was up by 4% to $214.6 million, or $5.48 per share and adjusted earnings were $4.81 per share on revenue of $25.36 billion which dipped by 4%.

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