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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 Steiner Leisure (Nasdaq: STNR ) fell as much as 11% in early trading before rallying back to down a little more than 2% of this writing.
So what: It's hard to tell what caused the initial sell-off, especially when most stocks were already down due to fears the U.S. debt crisis wouldn't be resolved in time for next week's deadline. Seeing this five-star stock in Motley Fool CAPS dip to about 12 times earnings appears to have brought forth the bargain shoppers.
Now what: We'll know whether the initial dumping was justified after the bell today, when Steiner reports second-quarter results. The four analysts following the company expect $0.86 in per-share earnings on $167.65 million in revenue. Do you think Steiner will meet or beat those estimates? Let us know what you think using the comments box below.
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