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 services company Kforce (KFRC -0.98%) jumped 17% today after releasing earnings.
So what: Fourth-quarter revenue was up 12.3% from a year ago to $302.9 million, which was up 4.4% on a billing day basis. Adjusted net income was up 6.6% to $9.1 million, or $0.28 per share, in line with estimates.
What excited investors is that guidance for the first quarter of 2014 is for $298 million-$304 million in revenue and earnings of $0.15-$0.18 per share. That was slightly ahead of estimates and enough to spark buying today.
Now what: The Tech Flex business continues to do well, but there's just not enough growth for me to get too excited with this earnings report. Results were largely in line with estimates and shares are already trading at 15 times 2015 estimates. That's a steep price for a company that's not growing revenue much sequentially, so I'll sit out the pop today.
