April 25, 2012
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 staffing agency Robert Half International (NYSE: RHI ) jumped as much as 12% today after the company released earnings.
So what: During the first quarter, revenue rose 15% to $1.02 billion, beating expectations of $989.1 million from analysts. Profit grew 83% to $0.34 per share, $0.06 ahead of estimates.
Now what: The United States is driving the growth with revenue increasing 19.6% from a year ago, something that might surprise some observers. The other positive trend is that job placements are up 28% versus temporary placements up 19%, a sign that the job market is recovering. Shares are now trading at 18 times forward estimates, and I think the stock has room to run as the economy improves.
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