Johnson Controls International plc Ordinary Shares JCI spiked up earlier Wednesday on news that it had canceled its appearance at the upcoming Bernstein Strategic Decisions Conference.
A Johnson Controls spokesperson told Benzinga the company has decided to cancel out due to Bernstein no longer having an industrial analyst.
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Companies generally cancel for a few particular reasons. Excuses range from simple scheduling conflicts to evasion of inquiries into negative reports to preparation for market-moving announcements.
The annual event, in which Johnson Controls has previously participated, will run from May 31 to June 1 and gathers corporate leaders across sectors.
At time of publication, the stock was trading around $42.33; The stock had hit an intraday high of $42.44.
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