US stocks advanced in midday trade on Monday on better-than-expected housing data.
Below we highlight few stocks that are making notable moves in Tuesday's trading session.
Jabil Circuit Inc. (NYSE: JBL): The company, which provides electronic manufacturing services and solutions announced that it swung to a fiscal first-quarter profit of $28.3 million, or 13 cents a share, from a loss of $275.9 million, or $1.34 a share, in the prior-year period. On an adjusted basis, Jabil earned 32 cents a share in the latest period. Revenue slipped 9% to $3.1 billion from $3.38 billion. Analysts, on average, expected the company to report earnings of 29 cents a share. In a statement, Jabil CEO Timothy Main said the company has a solid new business pipeline and "stable to improving" business environment. Look ahead to the second quarter, Jabil said it expects to report adjusted earnings of 20 cents to 42 cents per share and revenue of $2.9 billion to $3.1 billion. Shares of the company soared over 12% in afternoon trade.
American International Group Inc. (NYSE: AIG): According to media reports, the insurer has shelved plans to sell a stake in Chartis, as Chief Executive Robert Benmosche focuses on expanding the property and casualty unit. Bloomberg reported that AIG's chief executive, Robert Benmosche, said he values Chartis as a core business and prefers to build on the division over time, instead of selling it off in pieces. AIG shares jumped over 4% in midday trade on Tuesday.
Athersys Inc (NASDAQ: ATHX): Shares of biotechnology firm rallied over 2% on Tuesday. On Monday, the company announced that it has entered into an agreement with drugmaker Pfizer Inc (PFE.N) on its experimental stem cell therapy. Under the terms of the deal, Pfizer will pay Athersys $6 million upfront and up to $105 million in milestones for Athersy's stem cell therapy, MultiStem, which is being developed for the treatment of inflammatory bowel disease.
Clarient Inc. (NASDAQ: CLRT): The medical device maker announced Monday that it has agreed to acquired cancer test maker Applied Genomics Inc. for $17.6 million in stock in a deal it says will help it develop new lung cancer tests. Applied Genomics also has a pipeline of tests that can be used to diagnose cancers, as well as determine a patient's prognosis and the most effective therapies. It has two commercial products in the market -- Pulmotype, a lung cancer test, and Mammostrat, a breast cancer test. Clarient shares jumped over 7%.
Navistar International Corp. (NYSE: NAV): Late on Monday, the company reported fiscal fourth quarter results that topped Wall Street expectations. The company swung to a profit of $86 million, or $1.19 a share, compared to a loss of $343 million, or $4.81 a share, in the year-ago quarter. On an adjusted basis, the company earned $1.77 a share. Revenue dropped to $3.3 billion from $3.9 billion last year. Analysts, on average, had forecast earnings of $1.53 a share with sales of $3.08 billion.Shares jumped over 7% on Tuesday.
Disclosure: Author doesn't own any of the stocks discussed here.