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 energy technology company Babcock & Wilcox (NYSE: BWC ) rose as much as 13% today after the company released fourth-quarter earnings.
So what: Revenue grew 13.6% to $800.8 million in the fourth quarter, topping analyst revenue expectations of $769.2 million. Net income grew 17% to $62 million, or $0.54 per share, and easily topped the $0.41 Wall Street forecast.
Now what: Management is expecting the good times to continue, projecting double-digit growth in 2012. More than $5.3 billion in backlog should help drive that growth. The energy industry is a strong space right now, and Babcock is providing technologies that companies and the government need for the future. Based on that, I think the company's strong earnings can continue, and the stock is looking attractive at its current price.
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