Why Heico Shares Plunged 12.1% in December
Shares of Heico (NYSE: HEI) fell 12.1% in December, according to data provided by S&P Global Market Intelligence, after earnings and a new acquisition were announced. Shares of the aerospace and electronics company have recovered some of those losses early in January 2020 as the market has rallied, but they still trade down from early December.
The fall in shares came after fiscal fourth-quarter 2019 results were announced on Dec. 16. Revenue was up 14% to $541.5 million, and net income jumped 27% to $85.7 million, or $0.62 per share. Results were great by any measure, and an announced acquisition of 80.1% of Quell Corporation should continue growth. But that wasn't the focus in December.
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Source Fool.com
