Jabil, C3.ai, Dollar Tree, Enpro, and Matrix Service Shares Plummet, What You Need To Know

What Happened?

A number of stocks fell in the afternoon session after markets pulled back with the decline concentrated in the tech space as investors engaged in profit-taking following a robust week that saw the S&P 500 hit a new record. 

Adding to the pressure, new inflation data, specifically the Core PCE, showed an acceleration in July, signaling that rising prices remain a risk despite being in line with expectations. This confluence of factors, including market highs heading into a historically weak September, led to a pullback, with the Nasdaq Composite shedding 1.15%. While the Federal Reserve has hinted at potential rate cuts, the focus on inflation and the jobs market continues to influence investor sentiment.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Electronic Components & Manufacturing company Jabil (NYSE:JBL) fell 3.1%. Is now the time to buy Jabil? Access our full analysis report here, it’s free.
• Data Infrastructure company C3.ai (NYSE:AI) fell 3.2%. Is now the time to buy C3.ai? Access our full analysis report here, it’s free.
• Discount Grocery Store company Dollar Tree (NASDAQ:DLTR) fell 3.3%. Is now the time to buy Dollar Tree? Access our full analysis report here, it’s free.
• Engineered Components and Systems company Enpro (NYSE:NPO) fell 3.5%. Is now the time to buy Enpro? Access our full analysis report here, it’s free.
• Construction and Maintenance Services company Matrix Service (NASDAQ:MTRX) fell 3.7%. Is now the time to buy Matrix Service? Access our full analysis report here, it’s free.

Zooming In On Matrix Service (MTRX)

Matrix Service’s shares are quite volatile and have had 19 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 7 days ago when the stock gained 4.2% on the news that the major indices rebounded, as Fed Chair Jerome Powell delivered dovish remarks at the much-awaited Jackson Hole symposium. 

Powell suggested that with inflation risks moderating and unemployment remaining low, the Federal Reserve might consider a shift in its monetary policy stance, including potential interest rate cuts. This outlook eased market concerns about prolonged high interest rates and their impact on economic growth. The prospect of lower borrowing costs bolstered investor confidence, particularly in sectors that have lagged, leading to a broad rally across the market.

Matrix Service is up 25.7% since the beginning of the year, and at $15.13 per share, it is trading close to its 52-week high of $15.82 from July 2025. Investors who bought $1,000 worth of Matrix Service’s shares 5 years ago would now be looking at an investment worth $1,637.

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