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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 CoreLogic (NYSE: CLGX ) jumped as much as 28% in early trading after the company said it had hired Greenhill & Co. (NYSE: GHL ) to explore strategic options, including a merger or sale.
So what: Surprised? Don't be. Not even a month ago, CoreLogic blamed weakening demand for its analytics services among mortgage bankers for poor quarterly results. The stock subsequently tanked even more than it's up today. Only recent buyers have seen anything resembling gains.
Now what: Winnings could fade fast unless CoreLogic makes progress in finding a buyer. Analysts expect essentially zero growth from now through next year, which probably means more losses. (CoreLogic last turned a profit in 2009.) Do you agree? Would you buy at these levels? Weigh in using the comments box below.
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