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 logistics company Con-way (NYSE: CNW) jumped 10% today, after releasing earnings.
So what: Revenue was up 3.4%, to $1.36 billion, and net income fell 48.6%, to $11.8 million, or $0.21 per share. The revenue number was in line with estimates, but earnings per share were $0.02 short of estimates.
Now what: It's often the outlook that drives a stock higher, and management seems optimistic about 2013, which investors are betting on today. Volumes are picking up, and the company's margins are expected to expand next year, so there may be upside operationally. Still, after a slight earnings miss and low revenue growth, I don't think there was enough positive outlook to warrant the pop today. I'm staying out for now, and we'll see if the company can improve the bottom line next quarter.
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