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 consumer goods maker Jarden (NYSE: JAH) jumped as much as 10% today after the company released earnings.
So what: Revenue was up 5.7% in the first quarter, to $1.58 billion, just beating the $1.56 billion estimate. The company did swing to a net loss of $4.4 million, but if you pull out one-time items, earnings were $0.30 per share, far exceeding the $0.23 estimate.
Now what: This is really a slow and steady company, so we're not going to see outstanding revenue growth going forward. But the strong earnings results are encouraging, particularly when you consider that the stock is trading at 12.5 times 2013 estimates. I think this quarter shows some good momentum, and shares will move higher as the economy continues to improve, and consumer spending increases.
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