Transocean shares slip after Icahn cuts stake

Transocean Ltd. shares slipped in the extended session Wednesday after billionaire investor Carl Icahn cut his stake in the offshore drilling company. Transocean shares declined 0.4% to $9.98 after hours. In a Securities and Exchange Commission filing, Icahn reported he held a 1.5% stake in Transocean, or just under 5.5 million shares. In an August filing, Icahn reported owning about 21.5 million shares of Transocean.

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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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