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 Newpark Resources
So what: Revenue was up 27% to $230.8 million in the second quarter and diluted earnings per share were up to $0.19. Analysts were only expecting $212.4 million in revenue and $0.16 in earnings, so the quarter was much better than expected.
Now what: Sometimes I throw my hands up when I see how the market responds to earnings. I don't see any big red flags for Newpark, and still, shares are off 7% as I'm writing. I don't see anything but a buying opportunity today after a better-than-expected quarter. Mr. Market must have woken up on the wrong side of the bed this morning.
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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.
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