Stock Track | Flex Ltd Soars 5.10% on Strong Annual Results and Spinoff Optimism

Stock Track

05/08

Flex Ltd's stock soared 5.10% in intraday trading on Friday, continuing its positive momentum from the previous session.

The surge follows the company's release of strong annual financial results, which showed EPS of $2.39 and net income attributable to shareholders of $880 million, representing a 5.01% year-over-year increase. The steady profitability has reinforced market confidence in the company's operational resilience.

Additionally, ongoing optimism surrounding Flex's strategic plan to spin off its cloud and power infrastructure business into an independent publicly listed entity is providing further upside momentum. The company has secured a $1.45 billion senior delayed-draw term loan to support the spinoff and subsequent business expansion, with the spun-off entity projected to achieve significant revenue growth in the coming years.

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