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 plastics maker PolyOne
So what: Last night, PolyOne reported revenue of $735.9 million, an 8% increase from last year, and earnings per share of $0.23. Earnings were in line with expectations, but revenue fell just short of what analysts were expecting.
Now what: Shares have regained most of what they lost during trading today, and I wouldn't read too much into the early drop. Considering the third quarter wasn't all bad, it was likely the market was responding to comments from management that "challenges could remain for the near term."
At this point are investors really surprised when management doesn't provide a rosy outlook in an economic recovery that's moving slower than molasses?
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