Testing new lows today, but why? Anyone?Maybe this?? ECMs weighed by Sanmina warning (SANM, SCI, FLEX, JBL, SLR) By Tomi KilgoreShares of electronics contract manufacturers are taking a hit, after one of its peers lowered fiscal fourth-quarter financial expectations. Sanmina (SANM) said it now anticipates earnings of 1 to 2 cents a share on revenue of $600 million to $620 million, compared to consensus analyst expectations of earnings of 9 cents a share on revenue of $734 million (see 8:00 item). Sanmina is now off $1.05, or 5.8 percent, to $16.96. SCI Systems (SCI) , which is in the process of being acquired by Sanmina, is shedding $1.60, or 6.5 percent, to $22.90. Among other ECMs, Flextronics (FLEX) is down 78 cents to $21.16, despite being named SG Cowen's "bottom line" action idea of the week. Jabil Circuit (JBL) is losing $1.02 to $22.09 and Solectron (SLR) is 63 cents lighter at $12.97. http://www2.marketwatch.com/news/newsfinder/pulseone.asp?siteid=ft&dist=ft&dateid=37138.4780092593-788311135I also read that Marconi (European ECM) warned as well. Starting to think the market is a bottomless pit.Jaipur
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