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: Mr. Market turned a blind eye to billboard-advertising veteran Clear Channel Outdoor
So what: Despite an impressive 8% year-over-year revenue leap, Clear Channel's $0.01 of earnings per share fell far short of the $0.06 analyst view. The domestic market is flat while international sales are booming, but higher site lease costs drove up expenses and eviscerated the bottom line.
Now what: Clear Channel is rolling out lots of digital billboards around the globe, because that's where the future is. When you're competing with Google
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