Why Owens & Minor Stock Is Skyrocketing Today

Shares of Owens & Minor (NYSE: OMI) were skyrocketing 69.9% higher as of 11:36 a.m. EDT on Tuesday after rising as much as 94% earlier in the day. The huge jump came after the healthcare services company provided a preliminary second-quarter update that was much better than expected.

Owens & Minor expects to report adjusted earnings per share for Q2 of between $0.18 and $0.20. The average analysts' estimate projected an adjusted net loss of $0.03 per share. In addition, the company revised its full-year outlook for adjusted earnings to a range of $1 to $1.20 per share, up from its previous guidance of adjusted earnings between $0.50 and $0.60 per share.

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Source Fool.com