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 Range Resources (RRC -0.66%) jumped as much as 12% today after reporting earnings.
So what: Management said that second-quarter revenue jumped 50% to $673.4 million, and that it earned $0.34 per share. Expectations were for just $420 million in revenue and profit of $0.32 per share, so the results were far better than expected.
Now what: One great sign is that cash flow is expected to outpace growth, which is anticipated to be 20%-25% for years to come. That will help the company pay off $2.9 billion in debt or use the cash for further expansion. The stock still trades at 38 times forward estimates but, considering the company's growth and the recent increases in oil prices, that may be a steal as the company grows.
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