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 equipment maker Manitowoc
So what: In the first quarter, the company posted an 18% increase in sales to $860.1 million and a tiny profit of $100,000, breakeven per share. Analysts had expected slightly more in revenue and a profit of $0.09 per share.
Now what: The company is still growing revenue in all of its major businesses and expects that to continue throughout 2012. The results may not have lived up to expectations, but I think it leaves a nice buying opportunity for investors. Shares now trade at just 8.4 times forward earnings estimates, and even if those estimates go down, the shares look attractive if the company keeps growing.
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