Brazilian real soars to 6-month high after former president detained

The Brazilian real jumped to a six-month high against the dollar Friday after Brazilian authorities said they had detained former president Luiz Inacio Lula da Silva. The dollar sunk to 3.68 real, compared with 3.80 real late Thursday in New York. Authorities say they have evidence that da Silva profited from a bid-rigging and bribery ring involving state-owned oil company Petroleo Brasileiro SA, The Wall Street Journal reported. No formal charges have been filed against da Silva.

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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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