Flextronics Loses Ground After Earnings (FLEX)

Flextronics FLEX reported Q1 EPS of $0.19 vs. consensus estimates of $0.18. Revenue came in at $6.6 billion, which beat Wall Street estimates of $6.39 billion. The company now expects Q2 EPS in a range between $0.19 and $0.21 vs. consensus of $0.20. Revenue is expected to be in a range between $6.88 billion and $7.2 billion vs. consensus of $6.75 billion. "Our business environment remains healthy. Despite what appears to be an uncertain macro-environment, our orders and forecast continue to improve and we are again forecasting sequential growth in the upcoming quarter across all the markets we serve," said Mike McNamara, CEO of Flextronics.