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 Stifel Financial
So what: Fourth-quarter earnings per share of $0.97 easily passed analyst estimates of $0.71. Investment banking revenue and the company's brokerage unit performed better than expected.
Now what: The acquisition of Thomas Weisel Partners helped push revenue 26% higher, and improving conditions in financial markets have provided a boost. Retail and private clients are slowly starting to return, and I see more good results ahead for Stifel as they gain more confidence. I am bullish on today's move as I think the momentum the company had during the quarter will continue as the economy recovers.
Interested in more info on Stifel Financial? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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.