On June 3, Flex Ltd. rose 3.54% in regular trading, trading at $162.08/share, with trading volume of $94.99 million. The rally was primarily driven by continued market optimism surrounding the company's announced spinoff of its high-growth Cloud and Power Infrastructure (CPI) business.

Flex previously announced plans to spin off its CPI segment into an independent publicly listed company, which will focus on critical power and thermal management technologies for AI data centers, including power products, embedded solutions, and cooling systems. The CPI business, which generated $6.614 billion in revenue in the latest fiscal year accounting for 23.69% of total sales, benefits from robust demand in data center and power infrastructure buildout.

The company's latest annual report showed total revenue of $27.91 billion, up 8.14% year-over-year, with net income growing 5.01%. Solid fundamentals combined with the spinoff catalyst have supported consecutive gains, even as the broader Electronic Manufacturing Services sector showed mixed performance, with Celestica down 5.79%, Fabrinet down 1.65%, and TTM Technologies down 0.98%.

(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.)