Why Flex (FLEX) Shares Are Getting Obliterated Today

Shares of global manufacturing solutions provider Flex (NASDAQ:FLEX) fell 6.9% in the afternoon session after investors focused on financial risks tied to the planned spin-off of its Cloud and Power Infrastructure unit into Axiom Solutions International. According to TipRanks, the decline is centered on the terms of that separation, and on a $37.5 billion valuation for Axiom that the write-up says looks high next to the unit’s margins and capital spending. Flex’s Oct. 5 release said the company