Shares of Cemex Rise on Financial Update
Shares of cement manufacturer CEMEX (NYSE: CX) are up 9.55% as of 11:30 a.m. EDT today and were as high as 12% in early-morning trading. Today's price jump comes after the company released its official quarterly results and announced several updates related to its operations and indebtedness.
Construction and any activity related to the use of cement and concrete have dramatically shrunk in the past several weeks, and CEMEX's shares have taken a hit as a result. As recently as April, shares were down 60% from the beginning of the year. CEMEX's stock has rebounded a little since then as construction activity in the U.S. and other places has been starting back up again, but these past few months have hit demand hard.
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Source Fool.com
