3 Hot Stocks to Watch: Amazon Special Event, Jabil Circuit Up 9%, and Chesapeake Drills 5% Higher

Shares of Amazon (NASDAQ:AMZN) are heading higher as the company is expected to unveil its first tablet device today in order to gain market share and challenge Apple’s (NASDAQ:AAPL) successful iPad.  Amazon is holding a special event in New York City this morning.  The company did not give further details, but Wall Street widely expects the company to use the event to announce its first tablet device, which could go on sale in October.

Jabil Circuit (NYSE:JBL) is surging 9% in pre-market trading. The company released strong earnings after the bell on Tuesday.  Net income for fiscal Q4 nearly doubled from $58.7 million (27 cents per share) to $114.3 million (52 cents per share).  The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 26.8%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 37.9% from the year earlier quarter. Don’t Miss: Jabil Circuit Earnings Cheat Sheet: Fifth Consecutive Quarter of Double-Digit Growth.

Natural gas giant Chesapeake Energy (NYSE:CHK) is drilling nearly 5% higher in early trading.  The company announced it achieved strong initial production success after drilling 12 discovery wells in the Utica shale of Ohio and Pennsylvania.  The company plans to increase its net liquids production 50% by the end of next year.  The company competes with Anadarko Petroleum (NYSE:APC) and BP (NYSE:BP).

Investing Insights: Oil ETFs: The Top 10 Exchange Traded Funds for Your Oil Investing List.

More from The Cheat Sheet