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 storage company Mobile Mini (Nasdaq: MINI ) jumped 20% today after the company released earnings.
So what: Revenue rose 4% to $94.2 million, falling just short of analyst estimates of $94.7 million. Adjusted earnings per share were $0.18, a penny better than estimates, which is what got investors excited today.
Now what: Management was very aggressive in saying that it was looking to increase lease revenue and reduce costs in the second half of the year, which probably helped the pop today. Still, I think the move is way overdone for an earnings statement that only beat expectations slightly. Shares are now trading at 21 times the company's expected earnings for 2012, a steep price for a business growing this slowly.
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