Why Cubic Stock Just Popped 10%
Shares of defense contractor Cubic Corporation (NYSE: CUB) jumped in Monday trading and are up 9.6% as of 1:30 p.m. EST. The company announced this morning that in its fiscal first quarter of 2021, its sales declined 3% to $319 million, and it lost $0.41 per share -- but obviously, this isn't the reason investors are excited.
They're excited because Cubic is getting bought out.
Image source: Getty Images.
Source Fool.com
