Contract electronics maker

Jabil Circuit

(JBL) - Get Report

was 5% ahead in early trading.

After the close Tuesday, the company posted second-quarter earnings of 21 cents a share, edging the Street's 20 cent estimate. But it reduced its forecast for the next two quarters and said it would cut an unspecified number of jobs. Both

Lehman Brothers

and

Credit Suisse First Boston

cut estimates for Jabil.

Jabil's announcement comes a day after

Solectron

(SLR)

, another contract manufacturer, issued a warning and said it would restructure. CSFB today raised its earnings estimates for Solectron and lifted its price target to $30 from $23, based on expected savings from the company's cost cuts. Solectron was ahead 0.3%.