Microchip Technology shares dip after company narrows EPS outlook

Shares of Microchip Technology Inc. fell in Tuesday’s extended session after the chip maker narrowed its earnings-per-share outlook. Microship said it now expects third-quarter adjusted EPS in a range of 87 cents to 94 cents from 85 cents to 95 cents previously. Analysts surveyed by FactSet are projecting the company to earn 90 cents a share. It also forecast third-quarter adjusted revenue to fall by about 3% versus flat to down 6% it announced in early November. Microchip shares slid 0.4% after hours.

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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.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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