JBL Jumps 30%+

Jabil Circuit, Inc. (JBL - Analyst Report) was one of the best-performing S&P 500 companies on Wednesday with shares that soared more than 30%, as investors reacted to its fiscal second-quarter report from Tuesday.

Yesterday, the electronic product solutions company announced adjusted earnings per share that topped the consensus. Net revenue declined year over year by 5.6% to $2.9 billion, but was still a bit better than many analysts were expecting.

However, the company's fiscal third-quarter EPS outlook fell short of expectations. JBL expects core earnings between a loss of 8 cents and a profit of 8 cents, which was less than the consensus' lowered estimate of 9 cents.

Investors shook off the guidance on Wednesday, even as analysts pulled back on estimates for the quarter, this year and next year.

JBL stated that it will continue to focus on controlling its capital, reducing costs and refining its value proposition, which should put the company in a strong position once the recovery begins.

JBL is currently a Zacks #3 Rank ("Hold") stock.

Read the full analyst report on JBL