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 seismic data specialist ION Geophysical
So what: Fueled by rebounding demand across all of its segments, ION swung to a third-quarter profit compared to a year-ago loss. In fact, for the first time since the hellish fall of 2008, ION's quarterly results were strong enough to make the company profitable (excluding one-time items) year-to-date.
Now what: Today might not be the best time to jump in, but easing into ION on any pullback seems like a smart thing to do. As it becomes tougher and more expensive to extract oil, the long-term demand for seismic mapping services -- like those provided by ION and chief rival CGG Veritas
Interested in more info on ION? Add it to your watchlist here by clicking here.
Fool contributor Brian Pacampara owns no position in any of the companies mentioned. CGG Veritas is a Motley Fool Global Gains pick, and the Fool owns shares of it. Try any of our Foolish newsletter services free for 30 days.
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