2 Popular Stocks Popping After Earnings
Jabil Circuit Inc. (NYSE:JBL) reported net income above Wall Street’s expectations for the fourth quarter. Net income for the electronic equipment company rose to $114.3 million (52 cents per share) vs. $58.7 million (27 cents per share) in the same quarter a year earlier. This marks a rise of 94.7% from the year earlier quarter. Revenue rose 10.9% to $4.28 billion from the year earlier quarter. JBL beat the mean analyst estimate of 48 cents per share. It beat the average revenue estimate of $4.19 billion.
“Posting a record quarter and fiscal year in the present environment is remarkable,” said Timothy L. Main, President and CEO of Jabil. “Demand for our expertise in managing global supply chain networks remains robust, especially now as customers increasingly focus on growth in developing economies.”
Competitors to Watch: Sanmina-SCI Corporation (NASDAQ:SANM), Benchmark Electronics, Inc. (NYSE:BHE), Kimball International (NASDAQ:KBALB), Plexus Corp. (NASDAQ:PLXS), Celestica Inc. (NYSE:CLS), SigmaTron International (NASDAQ:SGMA), SMTC Corporation (NASDAQ:SMTX), CTS Corporation (NYSE:CTS), Flextronics Intl. Ltd. (NASDAQ:FLEX), and Sparton Corporation (NYSE:SPA).
Paychex, Inc. (NASDAQ:PAYX) reported net income above Wall Street’s expectations for the first quarter. Net income for Paychex, Inc. rose to $148.9 million (41 cents per share) vs. $131.9 million (36 cents per share) in the same quarter a year earlier. This marks a rise of 12.9% from the year earlier quarter. Revenue rose 9% to $563.1 million from the year earlier quarter. PAYX beat the mean analyst estimate of 38 cents per share. Analysts were expecting revenue of $554.1 million.
Martin Mucci, President and Chief Executive Officer, commented, “We are pleased with our results for the first quarter. We continue to see positive trends in our checks per client. We remain cautiously optimistic about the remainder of the year, despite a lack of robust new business formation, which continues to impact the selling environment.”
Competitors to Watch: Automatic Data Processing (NASDAQ:ADP), CBIZ, Inc. (NYSE:CBZ), Equifax Inc. (NYSE:EFX), American Express (NYSE:AXP), McMillan Shakespeare Ltd. (NYSE:MMS), Blue Tax Group SA (NYSE:BTG), and Colliers SA Holdings Ltd. (NYSE:COL).