The U.S. stock market extended losses on Friday, ahead of Trump's move to slap tariffs on up to $50 billion in Chinese goods.
Shares of Jabil Inc. (JBL, Financial) fell on Friday trading after the company posted third-quarter earnings per share of 46 cents on revenue of $5.44 billion, which was 21.2% higher than the comparable period. The company beat earnings estimates by 1 cent and revenue estimations by $520,000.
The diversified manufacturing services had year-on-year revenue growth of 36%, and the electronics manufacturing services had 12% revenue growth.
Mark Mondello, the companyĀ“s CEO, said: āOur DMS segment grew by 36%, well ahead of expectations, and posted meaningful income growth on a yearly basis. Similarly, our EMS segment grew both revenue and earnings by double-digits during the quarter.ā
Further, the company announced that its board of directors has authorized an additional share repurchase program, for up to $350 million.
Looking ahead, now the company expects fiscal 2018 revenue and core earnings per share growth of 14% and 23%, respectively.
Gainers
ā¢ Harley-Davidson Inc. (HOG, Financial)
ā¢ Alliance Data Systems Corp. (ADS, Financial)
ā¢ Bristol-Myers Squibb Co. (BMY, Financial)
ā¢ Michael Kors Holdings Ltd. (KORS, Financial)
ā¢ Altria Group Inc. (MO, Financial)
Losers
ā¢ Freeport-McMoRan Inc. (FCX, Financial)
ā¢ United Rentals Inc. (URI, Financial)
ā¢ International Paper Co. (IP, Financial)
ā¢ Anadarko Petroleum Corp. (APC)
ā¢ Marathon Oil Corp. (MRO, Financial)
Global markets
The main European stock markets traded in negative territory. The U.K.'s FTSE lost 1.28%, France's CAC fell 0.11%, Spain's Ibex slid 0.90% and Germany's Dax closed down 0.51%.
In Asia, markets closed in mixed. Japan's Nikkei gained0.5%, Indiaās BSE Sensex advanced 0.39%, Hong Kong's Hang Seng fell 0.43% and ChinaĀ“s Shanghai slid 0.73%.
Disclosure: The author holds no position in any stocks mentioned.
