Sanmina News
7 articles
growth-negative
Blink Charging, Fluence Energy, Toll Brothers, Sanmina, and ChargePoint Shares Plummet, What You Need To Know
The article discusses the impact of the U.S. government shutdown on various sectors, highlighting the delay in economic data release and disruptions in services like the FAA. This has led to decreased investor confidence and stock price drops for several companies, including Sanmina, which fell by 11.5%. The broader economic implications include rising inflation expectations and deteriorating labor market outlooks. The article suggests that such market reactions could present buying opportunities for high-quality stocks.
growth-positive
Sanmina (SANM) Tops Q3 Earnings and Revenue Estimates
Sanmina reported quarterly earnings of $1.53 per share, surpassing the Zacks Consensus Estimate of $1.42 per share, marking a 7.75% earnings surprise. The company also reported revenues of $2.04 billion, exceeding the consensus estimate by 3.37%. This performance reflects a positive trend as Sanmina has consistently surpassed earnings and revenue estimates over the past four quarters. The companys stock has increased by about 30.3% since the beginning of the year, outperforming the S&P 500s gain of 8.6%. Despite the positive earnings report, the stock holds a Zacks Rank #3 (Hold), indicating it is expected to perform in line with the market in the near future.
growth-negative
Sanmina Announces The Departure Of Bob Eulau And Appointment Of New CEO
Sanmina Corporation announced that its CEO, Bob Eulau, has resigned and will be replaced by Michael Clarke. The company reaffirmed its fiscal fourth quarter outlook. Sanmina is a leading integrated manufacturing solutions provider in the global EMS market.
Management Changes
growth-positive
Sanmina Celebrates 25 Years As A Public Company By Ringing The Nasdaq Stock Market Opening Bell
Sanmina Corporation will ring the Nasdaq Stock Market Opening Bell in celebration of its 25th anniversary as a public company. The event will be broadcast live on national business television and webcast live on Nasdaqs website. Sanmina Corporation is a leading integrated manufacturing solutions provider serving various industries.
Public Trading
growth-negative
Rafael finds alternative as Sanmina-SCI Lod plant faces closure
Rafael Advanced Defense Systems has contracted with an alternative supplier to produce electronic cards for the Iron Dome rocket interception system, which were previously produced by Sanmina-SCI Systems Israel. Sanmina-SCI intends to scale down its operations in Israel, potentially leading to job losses for its 300 employees. The Israeli plants parent company in the US plans to close down some of its activities. The Ministry of Defense and defense companies have not stopped ordering from Sanmina-SCI, but the company has not approached the Ministry of Defense for aid.
PartnersLayoffs
growth-positive
Sanmina-SCI Israel Medical builds China plant
Sanmina-SCI Israel Medical Systems Ltd, a unit of Sanmina-SCI Corporation, is investing $10 million in building a factory in Suzhou, China. The company develops and produces high-tech medical device systems for global companies. The new Chinese plant is expected to help the company reach sales of $200 million within five years and diversify into solar energy products.
Expand
growth-positive
Sanmina-SCI to acquire Elscint's Israel medical manufacturing operations
Sanmina-SCI Corporation has signed a definitive agreement to acquire Elscints manufacturing, assembly, engineering, and integration operations in Israel. The acquisition strengthens Sanmina-SCIs service offering in the medical systems market sector and expands their total turn-key service capabilities. The factory in Israel manufactures high-end complex medical systems and other industrial products, with principal customers including GE Medical Systems and Philips Medical Systems. The financial terms of the transaction were not disclosed. The acquisition aligns with Sanmina-SCIs goal of diversifying their customer end markets and becoming a premier partner for the medical industry.
CustomersPartners
