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 Moody's
So what: First-quarter revenue increased 23% to $412.6 million as the company benefited from an increase in corporate bond issuance. Earnings per share increased to $0.67 from $0.47 last year and beat estimates of $0.54 from analysts.
Now what: Moody's also increased its full-year earnings forecast 10 cents to a range of $2.22-$2.32 per share. Low rates have led to higher corporate and junk bond issuance, and the industry continues to rely on Moody's to rate those bonds. Unless there are major changes in the industry's reliance on ratings agencies, I think shares will continue to rise.
Interested in more info on Moody's? 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.
Moody's is a Motley Fool Stock Advisor choice. The Fool owns shares of Moody's. 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.
More from The Motley Fool
Forget Tesla, Here Are 3 Better Growth Stocks
Electric cars may be the future of transportation, but our contributors think there are better places to put your money now.
Warren Buffett's Top 3 Stocks of 2017 Will Surprise You
In Berkshire Hathaway's portfolio full of familiar stocks, several of the lesser-known issues soared during the year.
3 Growth Stocks Worth Owning for the Next 50 Years
These three stocks are tailor-made for buy-and-hold investors.