What's Going On With TD SYNNEX Stock Tuesday?
Portfolio Pulse from Anusuya Lahiri
TD SYNNEX Corp (NYSE: SNX) shares are trading lower after the company reported its second-quarter earnings, missing both EPS and revenue estimates. The company also announced a change in leadership, with COO Patrick Zammit set to become CEO. Despite a 32% gain over the last 12 months, SNX shares are down 7.04% premarket.
June 25, 2024 | 2:12 pm
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TD SYNNEX reported Q2 earnings with an adjusted EPS of $2.73 and revenue of $13.95 billion, both missing analyst estimates. The company also announced a new CEO, Patrick Zammit, starting Sept. 1. Despite a 32% gain over the last 12 months, SNX shares are down 7.04% premarket.
The miss on both EPS and revenue estimates is likely to negatively impact investor sentiment in the short term. Additionally, the announcement of a new CEO could add to the uncertainty. Despite the company's strong performance over the last year, the immediate reaction is negative.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100