|Over a week ago|
Cisco results slightly negative for EMS companies, says Citi » 07:2802/1302/13/20
SANM, FLEX, JBL, CSCO
Cisco Systems' (CSCO) results are slightly negative to electronics manufacturing services companies given the softer than expected product results and order weakness, Citi analyst Jim Suva tells investors in a research note. The communication equipment segment remains pressured for supply chain companies, says the analyst, who notes Sanmina (SANM), Flex (FLEX) and Jabil (JBL) have roughly mid-single percentage revenue exposure to Cisco.
3D Systems announces expanded relationship with Sanmina » 09:0502/0302/03/20
3D Systems (DDD)…
3D Systems (DDD) announced an expanded relationship with Sanmina (SANM). This latest agreement builds on an existing multi-year relationship that originally included the manufacturing of 3D Systems' Figure 4 platform, and will now expand to include all plastics hardware at its Marine Drive manufacturing facility in Rock Hill, South Carolina. Relying on Sanmina's global scale and industry-leading manufacturing capabilities enables 3D Systems to focus more capital investments in R&D, plastics material manufacturing, software, application development, and services to accelerate innovation and maintain competitive advantage.
|Over a month ago|
Sanmina sees Q2 adjusted EPS 65c-75c, consensus 70c » 16:0601/2701/27/20
Sees Q2 revenue…
Sees Q2 revenue $1.7B-$1.8B, consensus $1.79B.
Sanmina reports Q1 adjusted EPS 79c, consensus 69c » 16:0501/2701/27/20
Reports Q1 revenue…
Reports Q1 revenue $1.84B, consensus $1.77B.
|Over a quarter ago|
Sanmina achieves the IATF 16949:2016 certification at Chennai facility » 08:3511/2611/26/19
Sanmina announced that it…
Sanmina announced that it has achieved the IATF 16949:2016 certification at its manufacturing facility in Chennai, India. The certification combined with the facility's Domestic Tariff Area status in a Hi-Tech Special Economic Zone, enables Sanmina to manufacture and deliver automotive products for both domestic and export markets, without additional customs duty. India is the fourth-largest automotive market and is growing in recognition worldwide as a key automotive component provider that meets stringent global standards for automotive manufacturing. The IATF 16949:2016 certification ensures that automotive manufacturers have a Quality Management System in place that provides for continuous improvement, emphasizing defect prevention and reduction of waste in the supply chain.
Cisco results negative for electronics manufacturing services, says Citi » 06:1311/1411/14/19
CSCO, SANM, FLEX, JBL
Citi analyst Jim Suva…
Citi analyst Jim Suva believes Cisco Systems' (CSCO) results last night are negative to the electronics manufacturing services companies, namely Sanmina (SANM), Flex (FLEX) and Jabil (JBL). Communication equipment end demand is an incremental negative for supply chain companies, Suva tells investors in a research note. He says Cisco's guidance came in below consensus "as the company seeing broad base demand weakness."
Fly Intel: After Hours Movers » 18:5610/2810/28/19
AMKR, VRNS, TXRH, HLIT, NXPI, LEG, OMF, RIG, MRTX, GRUB, SANM, OFIX, OI, CR, BYND, NOV, CGNX, TREX, GDI, GOOG, GOOGL, TMUS, WGO
UP AFTER EARNINGS: Amkor…
UP AFTER EARNINGS: Amkor (AMKR) up 15.1%... Varonis (VRNS) up 14.8%... Texas Roadhouse (TXRH) up 9.6%... Harmonic (HLIT) up 10.4%... NXP Semi (NXPI) up 5.2%... Leggett & Platt (LEG) up 2.4%... OneMain Holdings (OMF) up 2.3%... Transocean (RIG) up 1.3%. ALSO HIGHER: Maruti Therapeutics (MRTX) up 15.4% after first clinical data in Phase 1/2 trial of MRTX849. DOWN AFTER EARNINGS: Grubhub (GRUB) down 29.3%... Sanmina (SANM) down 15.9%... Orthofix (OFIX) down 12.3%... Owens-Illinois (OI) down 11.9%... Crane (CR) down 11.0%... Beyond Meat (BYND) down 9.2%... National Oilwell (NOV) down 4.6%... Cognex (CGNX) down 4.5%... Trex Co. (TREX) down 4.3%.... Gardner Denber (GDI) down 2.2%... Alphabet (GOOG) down 1.8%... T-Mobile (TMUS) down 0.4%. ALSO LOWER: Winnebago (WGO) down 2.8% after offering convertible debt. Movers as of 18:30ET.
Sanmina down 11.6% to $28.10 after Q1 guidance trails estimates 16:4610/2810/28/19
Sanmina CEO says 'we expect demand to be soft' in 1H20 » 16:4510/2810/28/19
"We expect demand to…
"We expect demand to be soft in the first half of the fiscal year as a result of excess inventory in the channel, slower than anticipated 5G deployment and global economic uncertainty. As a result, we have initiated a plan to right size the organization to further improve operational efficiencies and optimize our cost structure. This right-sizing, coupled with our focus on the quality of our revenue, will support our ongoing operating margin, non-GAAP earnings per share and cash generation objectives," stated Hartmut Liebel, CEO. "Our leading edge technology, market diversification, operational excellence and financial discipline are key differentiators for Sanmina. Our strong team is well positioned to deliver superior service, innovation and support to our customers as well as enhanced value for our stockholders. I am excited about Sanmina's future," concluded Liebel.
Sanmina announces additional $200M share repurchase plan » 16:0910/2810/28/19
The new stock repurchase…
The new stock repurchase program has no expiration date.