Shares of electronics manufacturer
were slightly higher a day after the company stuck by its earlier earnings forecast.
Flextronics is expecting second-quarter earnings of 7 cents to 10 cents a share and revenue of $3.2 billion to $3.4 billion. Analysts are looking for the company to earn 8 cents a share on a revenue of $3.2 billion. The company said the electronics market has stabilized enough for it to confirm its earlier estimates.
The company believes third-quarter results will improve from the second quarter. Analysts are predicting earnings of 12 cents on revenue of $3.5 billion. The company didn't give specific projected third-quarter results.
Flextronics, which is in the middle of a restructuring, also said it's considering a stock buyback. The company has about 517 million shares outstanding.
Shares of Flextronics were recently up 17 cents to $9.68 on the
. Most other contract manufacturers, including
, were also higher.
, though, was lower.