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We recently published a list of 10 Firms Mirror Wall Street Slump on Thursday. In this article, we are going to take a look at where TD SYNNEX Corporation (NYSE:SNX) stands against other firms that mirrored Wall Street slump on Thursday.
Wall Street’s shares traded lower anew on Thursday, as investor sentiment continued to be dampened by President Donald Trump’s fresh tariffs on US imports.
The tech-heavy Nasdaq fell the heaviest, down 0.53 percent, followed by the Dow Jones at 0.37 percent, and the S&P 500 at 0.33 percent.
The market decline was mainly weighed down by the performance of car manufacturers after Trump announced a 25-percent tariff on all vehicles imported beginning April 2.
Ten companies mirrored the broader market decline. In this article, we listed Thursday’s 10 worst performers and detailed the reasons behind their drop.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5 million in trading volume.
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TD SYNNEX Corporation (NYSE:SNX)
TD Synnex declined for a third day on Thursday, slashing 14.28 percent to finish at $107.54 apiece after reporting a dismal net income performance for the first quarter of fiscal year 2025.
In its latest earnings result, SNX said net income during the quarter dipped by 2.7 percent to $167.5 million from $172.1 million in the same period a year earlier, despite a 4-percent revenue growth in the same period at $14.5 million versus $13.97 million.
Earnings per share also stood at $2.80, missing analyst expectations by 3.64 percent.
Looking ahead, the company expects revenues to settle between $13.9 billion and $14.7 billion and a net income range of $137 million to $179 million.
SNX also announced a quarterly cash dividend of $0.44 per share for stockholders as of record date April 11, 2025, to be paid on April 25, 2025.
Overall, SNX ranks 4th on our list of firms that mirrored Wall Street slump on Thursday. While we acknowledge the potential of SNX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as SNX but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.