Jabil Circuit Up 15% After Q1 Beat
Jabil Circuit, Inc. (NYSE: JBL) shares are trading higher by $3.43 (15 percent) at $25.00 in Friday's session.
The catalyst for the huge rally is a Q1 EPS beat of a nickel along with a slight beat for sales. The company also provided Q2 guidance that came within the range of the Street's estimates.
After a higher open, it retreated only $0.15 to $23.70 before continuing its move higher. It has continued to make new highs for the session with the current one standing at $24.84. That marks the highest level for the issue since it peaked on December 9, 2015, at $25.12.
It has not closed over $25.00 since December 8, 2015, when it ended the session at $25.67.
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