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 HNI Corp.
So what: Businesses are apparently buying office furniture again. HNI's revenue improved 14.9% to $466.1 million. Adjusted profit rose 44% to $0.39 a share. Analysts were expecting $450.2 million and $0.25, respectively.
Now what: The rally ended shortly after it began, with the stock trading up just 2% as of this writing. Part of the problem might be HNI's non-GAAP profit. It's not clear whether the $0.25 analysts were expecting included transition charges and restructuring costs. By that measure -- the GAAP number -- HNI earned $0.27 a share. Still a beat, but not as big a beat as investors might have been hoping for.
Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Twitter as @milehighfool. You can also get his insights delivered directly to your RSS reader. 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 is also on Twitter as @TheMotleyFool. Its disclosure policy is at least 10% better than other disclosure policies.