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 irrigation systems maker Lindsay
So what: Lindsay didn't do much to deserve this pop, other than be a close competitor to Valmont Industries
Now what: Lindsay's own earnings report is over a month away and the afterglow of Valmont's report will have faded by then. When it rolls around, you should compare Lindsay's sales and earnings performance to 62% revenue growth and 150% higher irrigation-related profits for Valmont. The company does occasionally post a quarter like that, but the last one fell in the summer of 2008. This looks like an adrenaline-fueled overreaction.
Interested in more info on Lindsay? Add it to your watchlist.