Semiconductor and electronic component distributor Avnet warned after the bell Monday that it will miss analysts' earnings estimates in its second quarter.
Avnet shares closed off $4.75, or 17 percent, to $22.69 ahead of the announcement.
CEO Roy Vallee told analysts during the firm's annual shareholders meeting that it now expects to post a profit of between 75 cents to 80 cents a share in its second quarter.
First Call Corp. consensus was expecting a profit of 85 cents a share in the quarter. Full story. -- Larry Barrett, ZDNet Inter@ctive Investor