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 firm Robert Half International (NYSE:RHI) rose as much as 10% today after reporting earnings.
So what: Second-quarter revenue was up 9% to $1.16 billion, and net income increased 19% to $75.1 million, or $0.55 per share. That exceeded management's own estimate of $0.48 to $0.53 per share and Wall Street's $0.52 mark.
Now what: Labor markets continue to improve, and staffing companies have done well in the current environment. Robert Half's results just continue that trend, and management thinks the second half of the year will see similar trends. I'm wary of a share price that's 21 times forward estimates, but operationally, the company is doing very well, and that should continue as the economy improves.
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Travis Hoium has no position in any stocks mentioned. The Motley Fool recommends Robert Half International. 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.