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 staffing company Kforce (KFRC 0.20%) jumped 16% today after the company released earnings.
So what: Fourth-quarter revenue from continuing operations fell slightly to $269.8 million and adjusted net income was down 10% to $8.6 million, or $0.24 per share. The only positive is that both results were ahead of what analysts expected.
Now what: The staffing business has been hit by slow hiring, which is why everyone expected conditions to get worse in the fourth quarter. Next quarter, results are expected to be flat at best, with earnings expected between $0.09 and $0.12 per share. That's not enough for me to pay 16 times next year's estimated earnings, so I'll stay away from the stock for today.
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