Contract electronics maker Jabil Circuit Inc said it would sell its warranty repair business in a deal valued at $725 million, as it focuses on its manufacturing operations.The company, whose customers include Apple Inc and Cisco Systems Inc, also forecast current-quarter results way below Wall Street estimates.Jabil's shares fell 14 percent in extended trading.The company will sell the warranty repair business, also known as aftermarket services, to U.S.-based business process services company iQor Holdings Inc.
Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL fell by 0.45% or $-2.51/share to $554.99. In the past year, the shares have traded as low as $385.10 and as high as $575.14. On average, 11786200 shares of AAPL exchange hands on a given day and today's volume is recorded at 8192964.
Cisco Systems, Inc. (Cisco) designs, manufactures, and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use. Shares of CSCO traded higher by 1.16% or $0.24/share to $20.92. In the past year, the shares have traded as low as $19.31 and as high as $26.49. On average, 45735700 shares of CSCO exchange hands on a given day and today's volume is recorded at 45338032.
Jabil Circuit, Inc. (Jabil), is a providers of worldwide electronic manufacturing services and solutions. Shares of JBL traded higher by 0.2% or $0.04/share to $19.72. In the past year, the shares have traded as low as $16.39 and as high as $24.32. On average, 2866930 shares of JBL exchange hands on a given day and today's volume is recorded at 6151506.
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