February 1, 2011
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 TIBCO Software (Nasdaq: TIBX ) jumped 10% in intraday trading today on unusually high volume.
So what: With an hour left in trading, 6.5 million shares had exchanged hands compared with an average three-month volume of 2.5 million. The news of the day was an announcement that CIBER had chosen TIBCO's tibbr as its social computing software.
Now what: The market was up big today, so that likely helped push shares higher in addition to the CIBER announcement. Getting a customer for tibbr is a positive incremental step, but I would like to see some financial results before getting too excited. I'll wait for a pullback in shares to jump on this stock.
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