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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 aluminum sheet product maker Quanex Building Products (NYSE: NX ) fell as much as 13% today after the company reported earnings.
So what: Revenue rose 15% from a year ago, to $185.7 million, which was ahead of the $176.8 million consensus estimate. But the company lost $0.17 per share, which was worse than the $0.06 per share loss analysts expected.
Now what: The company is still bullish on U.S. housing, but thinks window shipments will only improve 5% this year, below some forecasts. That puts a lid on the company's upside and, with losses already pouring down, investors aren't going to bid up shares without seeing more growth. I don't see a reason to buy today, and even the $0.45 per share profit estimate for 2013 looks steep after today's results.
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