Equity Capital Injection for Power Solutions International (PSIX); SYNNEX (SNX) Earnings Beat Forecast
Shares of Power Solutions International, Inc. (Nasdaq:PSIX) soared more than 40% in the extended session Monday after the company said that Weichai America Corp. will make a $60 million equity investment in newly issued common and preferred shares of the alternative-fuel power systems maker, adding that both companies have agreed to collaborate on different areas aiming to increase the revenue and profitability of Power Solutions.
PSIX stock closed at $6.40, up $0.07 (or +1.11%) and 75,350 of its changed handsduring the day.
Power Solutions International, which provides integrated turnkey power solutions to leading global original equipment manufacturers in the industrial and on-road markets, has 10.88M shares outstanding and PSIX stock 52-week range is from $2.76 to $20.97 per share. At close on Monday, the company had a market capitalization of $69.63M
SYNNEX Corp. (NYSE:SNX) shares surged over 2% in after-hours trading Monday as the company delivered better-than-expected quarterly profit in its financial statement.
For its first quarter fiscal 2017, Synnex posted revenue of $3.52 billion, a 12.6% increase year over year, and non-GAAP net income of $73.1 million, or $1.82 per diluted share, compared to non-GAAP net income of $54.6 million, or $1.37 per diluted share in the same quarter the prior year, exceeding the Capital IQ Consensus Estimate of $1.65 earnings per share on revenues of $3.5 billion for the period.
SNX stock finished the regular session in positive territory by 1.18% (or +$1.38) at $118.32 with a total volume of 204,900 shares traded.
SYNNEX, which provides a range of distribution, logistics and integration services for the technology industry, has 39.48M shares outstanding, market capitalization (intraday) of $4.72B and and SNX stock one-year range is between $77.54 and $129.24 per share.
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