FDP - Why Fresh Del Monte Produce Myriad Genetics and Jabil Jumped Today
Tuesday was a bad day on Wall Street, as political concerns weighed on investor sentiment. More hawkish rhetoric on the trade front and discussions of potential impeachment proceedings erased early gains and sent most major benchmarks to losses of as much as 1.5%. Yet amid the carnage, a few stocks still managed to move up. Fresh Del Monte (NYSE: FDP), Myriad Genetics (NASDAQ: MYGN), and Jabil (NYSE: JBL) were among the top performers. Here's why they did so well.
Shares of Fresh Del Monte Produce soared 20% after the company got an invitation it'll be happy to accept. S&P Dow Jones Indices announced that it would add the agricultural company to its S&P SmallCap 600 index, with the change taking effect before the stock market opens on Monday, Sept. 30. The move comes as a result of a vacancy to be created by computer company Cray, which is set to get acquired in the near future. The Cayman Islands-based company will join the index's agricultural products sub-industry group, and investors are pleased to see the fruit and vegetable producer get the recognition it deserves.
Image source: Fresh Del Monte.