Why Rayonier Advanced Materials Inc's Shares Popped 11% Today

Shares of materials supplier Rayonier Advanced Materials Inc (NYSE: RYAM) jumped as much as 11.2% in trading Friday after reporting third-quarter results. At 3:55 p.m. EDT, shares were still up 10.4% on the day.

Revenue was up $3 million versus a year ago, to $210 million, and was in line with analyst expectations. Net income was $12 million, or $0.28 per share, and on an adjusted basis, earnings of $0.18 per share met expectations.

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Source: Fool.com