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 drilling-equipment manufacturer Tesco
So what: When adjusted for the gain on the sale of its CASING DRILLING business to Schlumberger
Now what: The sale of CASING DRILLNG leaves Tesco with two major income streams -- top drives, and tubular services -- both of which grew steadily in the quarter. As a high-beta stock sitting near its 52-week low, Tesco could make a comeback if oil prices continue to rise, which would lift demand for its products. Keep an eye on energy prices in the near future to see if Tesco follows.
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