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Why Jackson Financial Stock Took Off on Wednesday

TheMotleyFool

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Why Jackson Financial Stock Took Off on Wednesday: https://g.foolcdn.com/editorial/images/695642/one-person-explaning-something-to-another.jpg

Jackson Financial (NYSE: JXN) saw its stock price rocket higher on Wednesday, up as much as 15.9% to over $33 per share at around 10:15 a.m. By 1:15 p.m. ET on Wednesday, the stock was up 14.6% to $32.77.

All the major indexes were up big on Wednesday morning, but Jacksonʻs catalyst was its second-quarter earnings, released Tuesday after market close, which bested analystsʻ estimates.

Jackson Financial is the second-largest provider of annuities in the U.S. It spun off of London-based insurance and financial services firm Prudential Plc last fall.

Source Fool.com

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