Swiss private bank EFG to buy rival BSI in $1.34 billion deal

Swiss private bank EFG International AG plans to pay 1.33 billion Swiss francs, or $1.34 billion, to acquire another Swiss private bank, BSI SA, said EFG in a news release Monday. The combined company will be one of the largest private banks in Switzerland with 170 billion Swiss francs in assets under management, the release said. EFG is buying BSI from BTG Pactual SA , a Brazilian bank whose CEO has been arrested in a corruption scandal.

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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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