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 marketing service company Interpublic Group of Companies
So what: Revenue and earnings were both up, but Wall Street was expecting even more than what the company delivered. Earnings per share were up to $0.19 from $0.15 per share a year ago, but fell a penny short of estimates.
Now what: The move today seems to be a bit overblown to me. Earnings per share were only a penny shy of expectations and revenue was less than 1% short of what analysts were looking for. I am not terribly excited about the stock's 20 P/E ratio, but this reaction to a reasonably good earnings report looks like an overreaction.
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