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Arrow Electronics Comfortable With Fourth-Quarter Estimates

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Arrow Electronics

(ARW) - Get Arrow Electronics Inc. Report

is comfortable with analysts' fourth-quarter earnings forecasts, as an inventory correction by a small number of its large customers, particularly in the networking and telecom arenas, won't prevent the company from meeting estimates.

According to a

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poll, six analysts expect the Melville, N.Y., electronic components and computer parts distributor to earn $1.07 a share in the fourth quarter, up from 46 cents a share in the same period last year.

Shares of Arrow were recently up 63 cents, or 2.7%, to $23.50 in

New York Stock Exchange