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 specialty vehicles manufacturer Oshkosh (NYSE: OSK ) jumped 14% today after the company released earnings.
So what: Revenue rose 8% to $2.18 billion, higher than the $2.06 billion analysts had expected. Earnings per share of $0.82 were also a surprise, crushing the $0.53-per-share benchmark analysts had set.
The company also said that full-year earnings per share would be between $1.90 and $2.05, well above the $1.84 average estimate from analysts.
Now what: The only blemish was weakness in the fire and emergency equipment business, which is understandable considering the pinch local budgets are under. Other than that the company sees strong results ahead and thinks it is out in front of an economic recovery. With shares trading at about 11 times 2012 earnings I think these results can help push the stock higher in the future as well.
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