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: Aegean Marine Petroleum
So what: The Greece-based company reported adjusted profit of $0.16 per share well below the estimate of $0.35 per share. The company blamed lower margins and slow tanker traffic for the miss.
Now what: Tanker shipping rates have been under pressure, causing tankers to go hunting for low-cost fuel. I don't see rates picking up quickly, so I'm inclined to see this drop more as a sign of things to come than a new value in the stock. Tankers may be bargain hunting at Aegean, but it isn't time for you to do the same.
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