Synnex Shares Fall After Earnings, Outlook Miss Street View

Synnex Corp. shares declined in the extended session Tuesday after the business services company posted quarterly results and an outlook that fell below Wall Street estimates. Synnex shares fell 3% to $74.95 on moderate volume. The company reported adjusted first-quarter earnings of $1.46 a share on revenue of $3.2 billion. Analysts surveyed by FactSet had forecast $1.52 a share on revenue of $3.42 billion. Synnex forecast adjusted second-quarter earnings of $1.50 to $1.56 a share on revenue of $3.38 billion to $3.48 billion. Analysts had expected $1.59 a share on revenue of $3.57 billion.