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 Robert Half International (NYSE: RHI ) fell 10% today after the company reported earnings.
So what: Revenue was flat in the first quarter at $1.02 billion, falling just short of the $1.05 billion estimate. Earnings per share did jump 18% to $0.40, but this also fell a penny short of expectations.
Now what: The job market isn't strong, and that's dragging on results across the industry. Part of the challenge is that Robert Half's shares are trading at 20 times trailing earnings, which indicates that investors are looking for some growth in the future. If the company isn't growing, I'm not buying, which is keeping me out of shares today.
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