TD Synnex (SNX) shares plummeted 6.33% during intraday trading on Tuesday, a sharp reversal from earlier gains following the company's release of better-than-expected fiscal first-quarter results.

The information technology provider reported adjusted earnings of $4.73 per share, significantly beating the consensus estimate of $3.31. Revenue surged 18% year-over-year to $17.2 billion, also topping Wall Street forecasts. For the current quarter, the company issued guidance that exceeded analysts' expectations across both earnings and revenue metrics.

Market analysts suggest the sharp decline may reflect profit-taking activity after the stock initially rallied on the strong earnings news. The "sell the news" dynamic is a common market reaction where investors lock in gains following a positive catalyst, even when the underlying results are fundamentally sound.