The article highlights the biggest stock movements at midday, featuring companies like Oracle, Jabil, Paramount, and Texas Pacific, indicating notable trading activity among these firms.
Workday's stock rose over 6% after beating Q3 estimates, while NetApp climbed nearly 10% on a beat in Q2 earnings and higher-than-expected guidance for Q3. Leslie's stock plummeted over 16% as the swimming supplies company forecasted a wider-than-expected loss for Q1. Jabil shares fell over 8% after issuing a lower revenue forecast for Q1 2024. Las Vegas Sands slipped 3.5% as its largest shareholder, Miriam Adelson, announced plans to sell $2 billion in shares to purchase a professional sports team. The Daily Journal's shares are expected to be active following the death of Charlie Munger, chair and publisher of the newspaper.
Jabil has agreed to sell its manufacturing business in China to BYD Electronic, a subsidiary of Chinese electric-vehicle maker BYD, for approximately $2.2 billion.
Chinese electric vehicle maker BYD has announced that its unit, BYD Electronic (International) Co, has agreed to acquire the mobility business of Jabil Inc's Singaporean division in China for $2.17 billion. The deal will expand BYD's customer base, product portfolio, and smartphone component business, positioning the company for growth in the electric vehicle sector. Jabil plans to use the proceeds to invest in electric vehicles, renewable energy, healthcare, AI cloud data centers, and other markets.
CNBC's Jim Cramer recommends taking half off the table for Equitrans, buying Alibaba if you have to buy a Chinese stock, buying Snap-on and Getty, and waiting for a pullback before buying Jabil.