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 Corp. gapped open sharply lower Wednesday and fell during the first half hour of trade. The stock was range-bound for the remainder of the session and closed down by 5.46 at $38.18 on the highest volume of the year. Synnex fell to a month and a half low and dropped below its 50-day moving average.
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