On June 4, Flex Ltd declined 3.21% overnight, trading at $156.74/share, with trading volume of $12,500.

On the news front, the Electronic Manufacturing Services sector came under broad selling pressure, with peer stocks declining notably — Celestica fell 7.07%, Fabrinet dropped 4.54%, and TTM Technologies slid 3.22%. The sector-wide weakness compounded short-term profit-taking pressure on Flex, which had rallied significantly in recent sessions following its announcement to spin off the high-growth Cloud and Power Infrastructure (CPI) business into an independent publicly listed company. The CPI unit focuses on critical power and thermal management technologies for AI data centers, including power supply products, embedded solutions, and cooling systems. With the stock having accumulated substantial gains on the spinoff catalyst and strong fundamentals — annual revenue growth of 8.14% and net income growth of 5.01% — near-term selling pressure emerged as investors locked in profits amid broader sector headwinds.

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