Flex shares rose 2.6% as the company filed for its Axiom Solutions spin-off, while broader US equity futures remained slightly negative in early trading.
Flex shares rose 2.6% after naming its planned spin-off Axiom Solutions and filing Form 10, indicating positive market reaction to the separation progress.
S&P 500 futures traded modestly lower amid the broader market context.
Dow Jones futures were slightly negative.
Nasdaq futures were slightly negative.
Axiom Solutions International is the named spin-off for Flex's cloud and power infrastructure business, expected to trade as AXM.
Flex shares climbed 2.6% in premarket trading after the company filed a Form 10 registration statement for its cloud and power infrastructure spin-off, Axiom Solutions International. The separation, which will see the new entity trade under the ticker AXM, is slated for completion in the first quarter of 2027.
The transaction is expected to be completed in the first quarter of calendar 2027, subject to regulatory conditions.
Axiom will house Flex's cloud and power infrastructure activities, including assets related to AI data centers and the electricity grid.