Why Dole's Stock Popped Today
Well known fruit and vegetable company Dole (NYSE: DOLE) reported a strong first quarter, with net income soaring compared the prior-year period. Dole has been a big stock market winner this year with shares surging about 36% year to date. That includes a pop of 8.6% today as of 10:50 a.m. ET.
Net income soared to more than $14 million in the first quarter versus a loss in the prior-year period. Even discounting losses in both periods from discontinued operations, income rose over 15% year over year. Revenue rose 1% year over year to $2 billion. Investors' positive reaction to the report came from the management's projection that full-year financial targets are likely to be met despite weather and supply chain headwinds.
Source Fool.com
