Movement Alert｜Celestica Falls 5.03% in Regular Trading, Electronic Manufacturing Services Sector Under Pressure

Market Focus10-07 21:52

On October 7, Celestica fell 5.03% in regular trading, trading at $370.81/share, with Turnover of $92.056 million.

Sentiment turned cautious ahead of the company's third quarter financial results and Investor and Analyst Day conference call scheduled for October 27, prompting profit-taking despite a recent Outperform rating and $520 target price from Bernstein.

Within the Electronic Manufacturing Services sector where Celestica belongs, the overall sector declined. Among individual stocks, Fabrinet fell 3.58%, Flex Ltd fell 2.24%, Jabil Circuit fell 1.99%, TTM Technologies fell 4.39%, and TE Connectivity fell 1.24%.

Celestica Inc. provides supply chain solutions in North America, Europe, and Asia. It operates through Advanced Technology Solutions, and Connectivity & Cloud Solutions segments. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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