Why Jabil Shares Are Trading Lower By 8%? Here Are Other Stocks Moving In Thursday's Mid-Day Session
Portfolio Pulse from Avi Kapoor
Jabil Inc. (NYSE:JBL) shares fell 7.8% after reporting a 20.2% year-on-year decline in third-quarter revenue, despite beating analyst estimates. The company provided mixed guidance for the fourth quarter. Other stocks moving significantly include MGO Global, Inc. (NASDAQ:MGOL), Griid Infrastructure Inc. (NASDAQ:GRDI), and Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP), among others.
June 20, 2024 | 5:26 pm
News sentiment analysis
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NEGATIVE IMPACT
Jabil Inc. shares fell 7.8% after reporting a 20.2% year-on-year decline in third-quarter revenue, despite beating analyst estimates. The company provided mixed guidance for the fourth quarter.
The significant year-on-year revenue decline and mixed guidance for the next quarter have likely led to the sharp drop in Jabil's stock price. Despite beating analyst estimates, the market reaction indicates concerns about future performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Griid Infrastructure Inc. shares climbed 89.3% after a previous decline, indicating a strong rebound.
The sharp rebound in Griid Infrastructure's stock price suggests a recovery from previous losses, possibly driven by investor sentiment or market corrections.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
MGO Global, Inc. shares jumped 222.8% after announcing the expected acquisition of Spetner Associates, projected to increase annualized revenue to approximately $28 million.
The announcement of a significant acquisition and projected revenue increase has driven a substantial rise in MGO Global's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Zapp Electric Vehicles Group Limited shares gained 89% after announcing expected first customer deliveries of the i300 in Q4 and projected sales of over 5,000 units by September 2025.
Positive news about upcoming product deliveries and strong sales projections have significantly boosted Zapp Electric Vehicles' stock price.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75