Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of seismic data specialist ION Geophysical
So what: Fueled by rebounding demand across all of its segments, ION swung to a third-quarter profit compared to a year-ago loss. In fact, for the first time since the hellish fall of 2008, ION's quarterly results were strong enough to make the company profitable (excluding one-time items) year-to-date.
Now what: Today might not be the best time to jump in, but easing into ION on any pullback seems like a smart thing to do. As it becomes tougher and more expensive to extract oil, the long-term demand for seismic mapping services -- like those provided by ION and chief rival CGG Veritas
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