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 Oil States International
So what: Revenue in the first quarter was $1.1 billion, an increase from $760.4 million a year ago. Earnings per share more than doubled to $2.43 from $1.13 a year ago. Both results easily topped estimates.
Now what: Expanded drilling both onshore and offshore has helped drive the business higher in North America. An increase in liquids drilling helped offset a decline in natural gas demand. I don't see these trends slowing down and I think the momentum can continue. At less than 10 times forward earnings, this stock looks like a great buy -- even after today's jump.
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