Synnex (NYSE: SNX) Tumbles Most Since 2005 After Forecast Trails Estimates
Posted on March 28, 2012 at 11:19 AM EDT
Chicago, IL 3/28/12 ( StreetBeat ) -- Synnex Corp. ( NYSE: SNX ), a provider of supply- chain technology services, fell the most in seven years, after the company’s second-quarter revenue and profit forecasts trailed estimates. The Fremont, California-based company’s shares fell 14 percent to $37.39 at 10:03 a.m., the steepest drop since March 2005. The shares had gained 43 percent this year before today. The company yesterday predicted revenue of $2.45 billion to $2.55 billion for its fiscal second quarter. That compared to a median estimate of $2.6 billion from analysts in a Bloomberg survey. Per share earnings will be 87 cents to 91 cents, the company said. Analysts in a Bloomberg survey had predicted a median estimate of 95 cents. Please contact www.thestreetbeat.com for interest in our latest investor relations platform the “CEO Interview Series” with its host Steve Kanaval. The package includes a one-on-one interview with a seasoned industry professional; published segment to our web site with embedded audio/video file; and a compressed file that can be easily e-mailed out to your current and/or potential investors. Please e-mail bflautt@gmail.com or call (662) 392-0740 for pricing and scheduling. StreetBeat Disclaimer Distributed by Viestly