Jabil (JBL) lost more than 7% after the firm announced it acquired Hanley Energy Group. It closed the acquisition, paying $725 million plus a consideration of up to $58 million.
Investors are not confident that the engineering solutions provider will add quickly to Jabil’s earnings.
In the drug sector, AbbVie (ABBV) lost nearly 4% to close at $220.18. The stock is showing fatigue, after struggling to hold the $225 level since last September 2025. Investors are likely rotating out of drug manufacturers. They are buying bank and information technology stocks. Look at AbbVie (ABBV), Johnson & Johnson (JNJ), Gilead (GILD), and Eli Lilly (LLY).
Shares in those firms also fell on Monday.
In the packaged food space, Campbell’s (CPB) lost 3.75% to close at a new 52-week low. Stock markets are pricing in downside risks from persistent inflation. Consumers will continue to cut back on spending. Food firms like Campbell’s do not have a strong moat, since consumers may substitute its goods with lower-priced alternatives.
Packaged food stocks with downside risks include Conagra Brands (CAG), J.M. Smucker (SJM), and Lamb Weston (LW). Last month, LW stock plunged from $60 to close on Monday at $41.30. In its fiscal second quarter of 2026, net sales grew by 1%, due mostly to foreign exchange benefits.
The trend of eating less often at restaurants will hurt LW stock.
