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 Triangle Petroleum (NYSEMKT: TPLM ) jumped 10% today after the company released earnings.
So what: Revenue rose 17% in the quarter to $34.3 million, above the $31.5 million estimate. On the bottom line, the company went from a $3 million loss a year ago to a $5.2 million profit, or $0.10 per share, double what Wall Street estimated.
Now what: Momentum is picking up and quarterly sales volumes were up 284% in the quarter. Management expects drilling costs to decline going forward, and there will be a benefit from gas sales that started in June. There's a lot of risk in small miners but I think the operational momentum and the new profit can push shares higher.
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