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 billboard specialist Lamar Advertising
So what: For as disappointing as the second-quarter projection was, first-quarter results showed some promise. Revenue rose 4.5% to $255.2 million, while Lamar's net loss narrowed from $0.27 a share to $0.14 a share.
Now what: Still, investors focused on the second-quarter number. Lamar management told investors to expect $296 million in second-quarter revenue, far from the $302.4 million Wall Street had been calling for. Score one for my Foolish colleague Sean Williams, otherwise known as TMFUltraLong. (He's taking questions all day today -- click here to get in on the fun.) He called for a downturn in February, and the stock is off more than 29% since. I see no reason to expect a turnaround anytime soon.
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Tim didn’t own shares in any of the companies mentioned in this article at the time of publication. Check out his 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.