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Friday, Sep 20
Jabil slips after BlackBerry issues huge warning
- Contract manufacturer Jabil (JBL -2.4%) fell in the final hour of trading after BlackBerry warned it expected Aug. quarter revenue of just $1.6B (well below a $3.06B consensus), said it would record a $930M-$960M inventory charge, and announced plans to narrow its smartphone portfolio to 4 devices.
- BlackBerry is a major customer of Jabil's High Velocity business. The company has taken some business from Celestica and Flextronics, both of recently wound down their BlackBerry-related work.