Why Veritiv Stock Is Soaring Today
Shares of Veritiv (NYSE: VRTV) spiked 80% higher on Wednesday morning and traded up more than 50% later in the day after the packaging company reported much better-than-expected quarterly results.
On Wednesday morning, Veritiv reported fourth-quarter earnings of $1.90 per share, easily beating analyst expectations for a $0.73 per-share loss. Revenue came in at $1.6 billion, down 10% year over year but about $80 million above what analysts had expected.
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Source Fool.com
