U.S. markets rebounded modestly after several lackluster days, but were still mixed on Friday as Wall Street tried to decide whether they liked what Federal Reserve Chairwoman Janet Yellen had to say after the closing bell the previous day.
Another interesting development on Friday was the sudden resignation of House Speaker John Boehner, which some analysts are saying may reduce the odds of Congress voting for a government shutdown. Boehner said he will be not only resigning his leadership role, but also stepping down as a congressman by the end of October.
The Dow Jones Industrial Average rose 0.7%, but the S&P 500 was flat and the Nasdaq was the laggard today, losing 1%. But there was nothing mixed about the performances of some of Friday’s best stocks: Nike Inc (NYSE:NKE), Jabil Circuit, Inc. (NYSE:JBL) and Amira Nature Foods Ltd (NYSE:ANFI).
Here’s what went down:
Nike Inc (NKE)
Nike shares raced almost 9% higher today after the company beat estimates on earnings and revenue. After Thursday’s bell, the athletic apparel firm reported fiscal first-quarter earnings of $1.34 a share on $8.4 billion in revenue. The Street had been looking for $1.19 a share and $8.22 billion in revenue.
Nike also reported that futures orders throughout the world for the next quarter are 9% higher than the year ago quarter. The growth in China has been particularly strong — a fact that allayed some of traders’ recent fears about a slowing of the Chinese economy.
NKE stock touched an all-time high of $125.82 this morning before finishing at $125.02.
Jabil Circuit, Inc. (JBL)
Jabil Circuit shares also shot up on earnings news, rising 12% after reporting fourth-quarter 2015 earnings of 45 cents a share on $4.7 billion in revenue, well ahead of forecasts for 35 cents a share on $4.5 billion in revenue.
The St. Petersburg, Florida-based manufacturer of electronic services and solutions trounced its numbers from a year ago, when JBL lost 13 cents on revenues of $4.1 billion.
Among other things, Jabil Circuit makes phone casings for Apple Inc (NASDAQ:AAPL), and the success of Apple’s iPhones has also boosted JBL’s bottom line considerably.
Amira Nature Foods Ltd (ANFI)
Amira shares were mysteriously surging 15% today, with no new announcements reported on the stock. Last week the company announced that Whole Foods Market, Inc. (NASDAQ:WFM) will begin to carry some of ANFI’s organic rice product lines, but it’s only in the past two days that the stock has really taken off.
ANFI stock has a substantial amount of short interest, at nearly 20% of the company’s float held short as of Sept. 15, so this could be a short squeeze at work.
As of this writing, Ethan Roberts does not hold a position in any of the aforementioned securities.
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