Stock Alert: Synnex Up 11% On Outlook

(RTTNews) - Shares of business process services company, Synnex Corporation (SNX) are rising more than 11% Wednesday after the company provided second-quarter earnings outlook better than the Street view. The significant increase in work-from-home during the coronavirus pandemic is the primary reason for the improved outlook, the company noted.

The company expects second-quarter adjusted EPS in the range of $0.00 to $1.00. The consensus estimate is for a loss of $4.05 per share.

SYNNEX shares are currently trading at $93.50. It has traded in the range of $52.06- $153.07 in the last one year.