Flextronics & Cramer Shine on EMS (FLEX, CLS, SANM, JBL)

Posted in pre-market 
September 16th, 2009

Flextronics International Ltd. (NASDAQ: FLEX) is surging this morning after a Jim Cramer tout last night on CNBC’s MAD MONEY after he said that the EMS operation is trading at just 12 times 2011 earnings and said he’s a buyer of FLEX.  At 9:02 AM EST we have shares trading up 9% at $7.54 on almost 300,000 shares.  Average volume is close to 9 million shares and the 52-week high here is $8.23.  While this is not a 52-week high it is a high that has not been seen since OCT-2008.  If this one ramps too much, we’d look for gains elsewhere in EMS rivals like Celestica Inc. (NYSE: CLS), Sanmina-SCI Corp. (NASDAQ: SANM) and Jabil Circuit Inc. (NYSE: JBL).  -JON OGG

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