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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 denim clothier True Religion (Nasdaq: TRLG ) rose more than 14% in early trading on triple the average volume. Strong third-quarter results drove the gains as the stock closed up about 8%.
So what: Revenue rose 17% to $108.4 million in Q3 while adjusted profits inched up to $0.51 a share from $0.48 a year ago. Both figures beat estimates.
Now what: Despite the beat, apparel analysts have yet to upgrade True Religion the way they have Gap (NYSE: GPS ) and Aerospostale (NYSE: ARO ) recently. Do you see that as fair? Would you buy shares of True Religion at current prices? Please weigh in using the comments box below.
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