Why Cubic Stock Just Popped 10%

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Shares of defense contractor Cubic Corporation (NYSE: CUB) jumped in Monday trading and are up 9.6% as of 1:30 p.m. EST. The company announced this morning that in its fiscal first quarter of 2021, its sales declined 3% to $319 million, and it lost $0.41 per share — but obviously, this isn’t the reason investors are excited.  

They’re excited because Cubic is getting bought out.

Image source: Getty Images.

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