API says crude-oil inventories fell 3.3 million barrels: reports

The American Petroleum Institute on Wednesday said U.S. crude-oil inventories fell by 3.3 million barrels in the latest week, according to news reports. The data from API, an industry trade group, is watched for clues to weekly data from the Energy Information Administration due Thursday morning. Analysts surveyed by The Wall Street Journal produced an average forecast for a 3.1 million barrel rise in oil inventories.

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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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