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Synnex Corp. (SNX) Is Down Sharply On Weak Q2 Forecast

Synnex Corp. (SNX) reported first quarter net income of $1.02 per share after the bell Tuesday, compared to $0.80 per share in the previous year. The consensus estimate was for EPS of $0.92. Second quarter EPS is expected to be between $0.87 and $0.91, compared to the consensus estimate of $0.95.

Synnex has gapped open sharply lower Wednesday and is now down 5.40 at $38.24 on above average volume. The stock has dropped to a month and a half low and has fallen below its 50-day moving average.

by RTTNews Staff Writer

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