Why ServiceMaster Shares Rebounded 19% Today
One day after falling nearly 23% in response to a Q1 earnings miss, the stock of ServiceMaster Global Holdings (NYSE: SERV) bounced right back in Friday trading, ultimately closing up 19.3%, at $4.80. Even after today's incredible bounce, though, ServiceMaster stock still sells for about $2.50 cheaper than what it cost at Wednesday's closing trade.
It's not hard to figure out why ServiceMaster went down on Thursday. Its Q1 earnings report was a bit of a disaster, with $456 million in reported sales falling more than $6 million short of the consensus, and its $0.08 in pro forma earnings being less than half the $0.18 that analysts had predicted.
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Source Fool.com
