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 and gas service provider Core Labs (NYSE: CLB ) jumped 10% today after reporting fourth-quarter earnings.
So what: The company said revenue was up 4.4% in the quarter to $254.5 million, ahead of the $247 million analysts expected. Earnings per share were $1.17, $0.04 ahead of estimate.
Now what: Deepwater drilling is driving results and the expansion in this area should continue for some time to come. I'm just leery of buying a company that is growing this slowly for 22 times next year's earnings estimates. I need to see more growth before thinking that it's a good value, especially after today's jump.
Interested in more info on Core Labs? Add it to your watchlist by clicking here.
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