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 oil transporter Teekay
So what: It isn't like earnings are great; they're just less bad than everyone expected. Second quarter loss at Teekay was $1.36 per share, down from a $2.10 loss per share last year.
Now what: Teekay is generating positive cash flow per vessel, but conditions are still tough for transporters. The company does have $498 million in cash and has been buying back shares, but unless overall transport conditions pick up, shareholders will continue to see losses, even if there are fewer of them. I'm not encouraged enough to jump in these waters.
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