On August 3, Flex Ltd fell 5.46% in regular trading, trading at $111.53/share, with turnover of $43.65 million.

On the news front, Baird cut its price target on the company to $142 from $165 while maintaining an Outperform rating. The stock continues to experience volatility following its July 29 announcement of a planned spinoff of its cloud and power infrastructure business (Spinco), which triggered sell-the-news sentiment despite strong Q1 results. The company reported adjusted EPS of $1.00, beating the $0.91 consensus by 9.89% and representing a 38.89% year-over-year increase, while revenue of $7.928 billion also exceeded the $7.557 billion estimate.

The broader Electronic Manufacturing Services sector showed notable weakness, with Celestica down 3.36%, Jabil Circuit down 1.73%, TE Connectivity down 1.30%, and Fabrinet down 0.73%, reinforcing sector-wide selling pressure.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)