Jabil Shares Hit a 20-Year High and EU Approves Google’s $2.1 Billion Acquisition of Fitbit, Subject to Conditions
On Thursday, the European Commission has announced a number of commitments that tech giant Google must follow over the next decade. With this, Google’s acquisition of Fitbit now comes with a few contingencies.
Google is now ordered to not use the health data received from Fitbit users in the European Economic Area for advertising and will need to keep Fitbit’s data completely separate from Google.
Jabil Inc shares had a huge day on Thursday and rocketed up 8.3% toward a 20-year high in premarket trading. This comes after the contract manufacturer reported a monster profit in their fiscal first quarter earnings release.
The company’s net income rose to $200.4 million from $40.4 million. Over the last three months alone, the stock shot up around 24.5%. In the same time period, the S&P 500 moved just 10.3%.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.