Sanmina's stock dropped nearly 22% despite beating earnings estimates on both revenue ($3.19B vs $3.09B expected) and net income ($2.38 per share vs $2.14 expected). The sharp decline was driven by disappointing forward guidance, with the company projecting Q2 net sales of $3.1-$3.4 billion, falling short of analyst expectations of $3.52 billion. The market's high expectations for AI-related growth companies left no room for guidance misses.

Sanmina plans a new factory in Texas targeting the U.S. energy market and partnered with a Croatian company to co-design transformers, but investors are concerned about potential cash burn and high valuation.

The global In-Vitro Diagnostic (IVD) contract manufacturing market is projected to grow from USD 21.13 billion in 2024 to USD 56.9 billion by 2034, driven by increasing demand for advanced diagnostic tests and rising chronic disease prevalence.

The global Aerospace Printed Circuit Board Market is projected to grow from US$1.2 billion in 2024 to US$1.9 billion by 2034, with a 3.3% CAGR, driven by advancements in commercial aircraft, military platforms, and emerging technologies like UAVs.

AMD is selling its ZT Systems' U.S.-based data center infrastructure manufacturing business to Sanmina for $3 billion in cash and stock. Sanmina will become a preferred manufacturing partner for AMD's cloud AI solutions, while AMD retains design and customer support.

Smart Beta ETF report for FNK

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Drops in key fundamentals and a double miss on guidance doomed the company to a lousy day on the stock market.

Sanmina (SANM) delivered earnings and revenue surprises of 3.17% and 2.42%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?

U.S. stocks kicked off the week on a positive note, with all major averages edging higher in anticipation of significant events including earnings reports from tech giants like Amazon.com Inc. (NASDAQ:AMZN) on Tuesday and Apple Inc. (NASDAQ:AAPL) on Thursday, a pivotal Federal Reserve Open Market Committee meeting on Wednesday, and the April’s jobs report on Friday. The S&P 500 rose 0.2% by midday trading in New York, following a 1% surge last Friday. Both the tech-heavy Nasdaq 100 and blue-chip stocks in the Dow Jones made similar gains. Small caps, as tracked by iShares Russell 2000 ETF (NYSE:IWM), outperformed large-cap stocks, rising as much as 0.9%. Tesla Inc. (NASDAQ:TSLA) grabbed the market spotlight by securing a significant partnership with Chinese search engine giant Baidu Inc. (NYSE:BIDU), which granted the Elon Musk-led company access to its mapping license for data collection on China’s public roads. The deal removes a last regulatory barrier for Tesla’s driver assistance system, known as Full Self-Driving (FSD), to be introduced in China. Shares of Tesla rose as much as 16% Monday. The Bank of Japan sent shockwaves through the ...Full story available on Benzinga.com

U.S. stocks are looking to build on past week’s gains, with the mood remaining cautiously optimistic. The major index futures were modestly higher in early trading. Given the strong gains in the past week, it wouldn’t come as a surprise if traders choose to take some profits, especially with the Fed meeting looming. Analysts hope the upward momentum gains strength if the central bank chooses to deliver a dovish message. In the absence of any major Main Street cues, the focus is likely to rest solely on earnings. Futures Performance On Monday ( as of 6:20 a.m. EDT) Futures Performance (+/-) Nasdaq 100 +0.24% S&P 500 +0.16% Dow +0.12% R2K -0.00% In premarket trading on Monday, the SPDR S&P 500 ETF Trust (NYSE:SPY) climbed 0.20% to $509.27, and the Invesco QQQ ETF (NASDAQ:QQQ) rose 0.29% to $432.27, according to Benzinga Pro data. Cues From Past Week’s Trading: U.S. stocks rebounded strongly in the week ended April 26, thanks to the optimism generated by strong corporate profit growth. The Nasdaq Composite and the S&P 500 Index entered the week with six straight sessions of losses and bargain hunting lifted the major averages early in the week. Although the indices suffered inflation jitters in the middle of the week, the earnings catalyst helped a strong comeback in the final session. The Nasdaq Composite and the S&P 500 Index snapped four-week and three-week losing streaks, respectively, and finished at their best closing levels since April 12. Index Performance ...Full story available on Benzinga.com

Plexus (PLXS) delivered earnings and revenue surprises of 8.05% and 1.64%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?