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 Owens Corning (NYSE:OC) jumped as much as 15% today after the company reported earnings.
So what: Fourth-quarter revenue was up 10% to $1.28 billion and earnings per share quadrupled to $0.44. Those figures easily topped the $1.21 billion in revenue and $0.27 per share in earnings that analysts expected.
Now what: The roofing, insulation, and composites businesses all saw improvements in performance, and management now expects $500 million in adjusted earnings before interest and taxes for the current year. The performance also gave management enough confidence to instituted a dividend, which will be $0.16 per share, paid on April 3, 2014. The construction industry continues to improve and after a blowout quarter I think there's room for the stock to run higher, even after today's pop.