BUZZ-Jacobs spin-off Amentum tumbles in second day of trading
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Shares of Amentum Holdingsfell 22.5% in its second day of trading following its spin-off from Jacobs Solutions. The decline occurred amid broader market weakness, despite a strong debut where AMTM shares rose 25.6% on their first day. Jacobs had announced a restructuring plan that included this spin-off. Meanwhile, Jacobs shares increased by 0.5%, marking a sixth consecutive day of gains. The S&P 500 Industrials sector is up approximately 19% in 2024.
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