Diamonds and Dogs
Jabil Circuit (JBL) firing on all cylinders. The electronic manufacturing services and solutions provider jumped 15% to a new 52 week high thanks to better than expected earnings and sales. Jabil reported first-quarter revenue of $5.1 billion, down about 2% year over year, but $190 million higher than the average analyst estimate. Jabil CEO, Mark Mondello added some color to the company's results saying he was pleased with their strong results with strength in our healthcare, packaging and consumer lifestyles businesses.
A downgrade and insider selling not a good sign for Nordstrom (JWN). The department store stock price had been on a tear, climbing 50% from the summer lows, but the stock is down 8% today after a downgraded from JP Morgan. The analyst said the company has no silver bullets to resurrect flat sales and a premium valuation makes the stock vulnerable to a sell off. I guess shareholders agree.