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 farm equipment manufacturer CNH Global
So what: For the second-quarter, CNH posted earnings of $1.33 per share, versus the average analyst estimate of just $0.99 per share, as higher crop prices drove farmers to invest in equipment. Naturally, CNH's results bode well for the upcoming earnings of rivals Deere
Now what: Don't let this rally you from looking into CNH. Management also raised its full-year revenue growth outlook from 10% to between 15% and 20%, suggesting that the company is continuing to make steady market share strides in North America. More importantly, with the stock still off about 20% over the past six months, and trading at a forward P/E of 12, you won't have to pay a whole for that operating momentum.
Interested in more info on CNH? Add it to your watchlist.