New home sales rise 5.7% in August to highest rate since 2008

WASHINGTON (MarketWatch) – New U.S. homes sold at an annual rate of 552,000 in August, marking the highest level since early 2008. Economists polled by MarketWatch had forecast sales to total 515,000 on a seasonally adjusted basis. Sales for July were revised up to a 522,000 rate from 507,000. New home sales are 21.6% higher compared to August 2014.

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Synnex shares fall as earnings outlook misses Street view

Synnex Corp. shares fell in the extended session Thursday after the business process services company’s earnings outlook fell short of Wall Street estimates. Synnex shares fell 8% after hours, following a 3.5% gain to close at $118.40 in the regular session. For the second fiscal quarter, Synnex estimates adjusted earnings of $2.25 to $2.35 a share on revenue of $4.58 billion to $4.78 billion. Analysts expect earnings of $2.41 a share on revenue of $4.75 billion. The company reported fiscal first-quarter net income of $24.4 million, or 61 cents a share, compared with $61.8 million, or $1.54 a share, in the year-ago period. Adjusted earnings were $2.14 a share. Revenue rose to $4.55 billion from $3.52 billion in the year-ago period. Analysts surveyed by FactSet had estimated $2.11 a share on revenue of $4.47 billion.

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