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 staffing agency TrueBlue (NYSE: TBI ) jumped 10% today after the company reported earnings.
So what: Revenue jumped 19%, to $422.3 million, and beat estimates of $420.2 million from Wall Street. Adjusted earnings per share were also up 19%, to $0.31, outpacing estimates by $0.05.
Now what: Management sees strong demand in staffing, as companies add temporary, instead of full-time workers. That may continue to be the case as companies look to avoid health-care costs associated with Obamacare. The stock is still expensive at 21 times forward earnings estimates, but if this growth continues, and companies avoid hiring full-time employees, the stock will continue its march higher.
Interested in more info on TrueBlue? Add it to your watchlist by clicking here.
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