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Cintas soars as a strong labor market prompts it to boost profit forecasts (CTAS)

cintas office

  • Cintas stock rose as much as 9% Wednesday after beating earnings estimates for its fiscal fourth-quarter earnings.
  • The Nasdaq component announced improved 2020 guidance, with revenue and earnings per share estimates edging out Wall Street expectations.
  • Cintas — which focuses on business services like uniform and workplace supply rental — is likely to profit from the strong labor market.
  • June’s US jobs report announced an increase 224,000 nonfarm payrolls, higher than economists’ expected gain of 164,000.
  • Watch Cintas trade live here.

Cintas stock surged as much as 9% after beating earnings estimates Tuesday afternoon and boosting profit guidance read more >>>

Source:: BusinessInsider.Com