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 commercial vehicle part maker Accuride Corporation (NYSE:ACW) jumped as much as 14% in early trading today after reporting earnings. Shares settled in at a 5% gain late in trading.
So what: Revenue was up just 2.3% from a year ago to $166.8 million, but easily topped Wall Street's $160.4 million estimate. On the bottom line, net losses fell from $15.9 million a year ago to $3.6 million, or $0.07 per share, half of the loss analysts expected.
Now what: Management also reaffirmed guidance for the full year of $650 million-$685 million in revenue and EBITDA of $60 million-$70 million, although management thinks it will be on the high end of that range. That could bring the company close to break-even by the end of the year, which is solid progress from a year ago. Still, without much growth I'm not willing to jump into a company that's losing money with better values available on the market.