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 commercial vehicle part maker Accuride Corporation (NYSE:ACW) jumped as much as 14% in early trading today after reporting earnings. Shares settled in at a 5% gain late in trading.
So what: Revenue was up just 2.3% from a year ago to $166.8 million, but easily topped Wall Street's $160.4 million estimate. On the bottom line, net losses fell from $15.9 million a year ago to $3.6 million, or $0.07 per share, half of the loss analysts expected.
Now what: Management also reaffirmed guidance for the full year of $650 million-$685 million in revenue and EBITDA of $60 million-$70 million, although management thinks it will be on the high end of that range. That could bring the company close to break-even by the end of the year, which is solid progress from a year ago. Still, without much growth I'm not willing to jump into a company that's losing money with better values available on the market.
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Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.