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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 Korn/Ferry International (NYSE: KFY ) surged more than 10% when the staffing agency reported better than expected financial results.
So what: Fiscal fourth-quarter revenue rose 16% to $205.8 million while adjusted earnings more than doubled to $0.39 a share. Analysts had been expecting $191 million and $0.32, respectively.
Now what: The results suggest that while unemployment remains a problem on the whole, cash-rich firms are hiring at the executive level. (Fees from placement services rose 17% for the quarter and 30% for the year.) There's still risk that an uncertain economy could stall Korn/Ferry's growth from here, but at 17 times forward earnings the stock is priced at a modest premium to the long-term profit growth analysts expect. I can't blame Fools for giving this stock four of five stars in Motley Fool CAPS.
Interested in more info on Korn/Ferry International? Add it to your watchlist.
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