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 Whiting Petroleum
So what: Revenue jumped 27% to $481.2 million, beating estimates of $472.8 million from analysts. Adjusted earnings per share were in line with expectations at $1.02 per share.
Now what: The move is a little mysterious considering the earnings report was actually slightly better than expected. The company did increase full year capital expenditure forecast to $1.6 billion from $1.35 billion, but that's usually a sign a company is expecting more growth. Shares have recovered slightly since opening lower, and I think the initial move was overdone.
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