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 workforce solutions company ManpowerGroup Inc. (MAN 0.01%) jumped as much as 10% today after reporting earnings.
So what: First-quarter revenue rose 2.9% to $4.9 billion and came in ahead of the $4.83 billion estimate. Better yet, earnings per share reached $0.86, $0.18 better than estimates. Second-quarter guidance of $1.26-$1.34 per share in earnings was also ahead of the $1.21 estimate.
Now what: Management is seeing strong trends heading into the second quarter after a slow start to the year. Employment improvements both domestically and in Europe should help the macro picture for ManpowerGroup, although the market still isn't growing much at all. At 17.5 times earnings, there's just not enough growth or value for me to jump in today -- I'll sit out this pop in share price.
