Jabil Shares Surge as Amazon Secures Right to Acquire 1.16 Million Shares

Jabil, a manufacturing services company, announced that it has granted Amazon (NASDAQ:AMZN) a stock purchase option. This option allows Amazon to purchase up to 1.16 million shares of the company, and this development has caused Jabil's stock price to increase by as much as 4.3%.

The initial exercise price for the shares was set at $137.77, based on the volume-weighted average price of Jabil's shares over the last 30 trading days.