Movement Alert|Flex Ltd Rises 5.16% in Regular Trading, EMS Sector Rallies as Post-Spinoff Selloff Recovery Continues

Market Focus07-31

On July 31, Flex Ltd rose 5.16% in regular trading, trading at $115.61/share, with turnover of $59.19 million. The stock continued its rebound following a nearly 10% decline on July 29 triggered by the announcement of a cloud and power infrastructure business spinoff plan.

On the fundamentals side, the company reported Q1 adjusted EPS of $1.00, beating the consensus estimate of $0.91 by 9.89% and representing a 38.89% year-over-year increase. Revenue came in at $7.928 billion, exceeding the $7.557 billion estimate. Full-year guidance calls for adjusted EPS of $4.42-$4.74, with the midpoint above the market estimate of $4.44. Despite the strong earnings, the July 29 spinoff announcement and new leadership team introduction sparked uncertainty, causing a sharp selloff that the stock has since been recovering from.

The Electronic Manufacturing Services sector continued to rally broadly, with Sanmina up 5.7%, TTM Technologies up 3.7%, Jabil Circuit up 2.5%, TE Connectivity up 1.24%, and Celestica up 0.93%, reinforcing the sector-wide rebound momentum.

(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.

Comments

We need your insight to fill this gap
Leave a comment