On June 4, Flex Ltd fell 3.17% in after-hours trading, trading at $160.54/share, with trading volume of $84.34 million.

On the news front, the Electronic Manufacturing Services sector experienced broad weakness, with Celestica down 3.13%, TTM Technologies down 1.37%, Fabrinet down 1.15%, and Jabil Circuit down 0.8%. The sector-wide decline added pressure to Flex shares.

The company had previously announced plans to spin off its high-growth Cloud and Power Infrastructure (CPI) business into a standalone publicly traded company, focusing on AI data center power and thermal management technologies including power products, embedded solutions, and cooling systems. This catalyst drove the stock on a sustained rally in recent sessions, with the stock climbing from approximately $141 on May 28 to over $161 by June 3. The significant cumulative gains over this short period intensified short-term profit-taking pressure, which combined with overall sector softness to push the stock lower.

The company's latest annual report showed revenue growth of 8.14% year-over-year and net income growth of 5.01%, indicating stable fundamentals underlying the recent volatility.

(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.)