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 oil transporter Teekay (NYS: TK) jumped 10% today after the company released earnings.
So what: It isn't like earnings are great; they're just less bad than everyone expected. Second quarter loss at Teekay was $1.36 per share, down from a $2.10 loss per share last year.
Now what: Teekay is generating positive cash flow per vessel, but conditions are still tough for transporters. The company does have $498 million in cash and has been buying back shares, but unless overall transport conditions pick up, shareholders will continue to see losses, even if there are fewer of them. I'm not encouraged enough to jump in these waters.
Interested in more info on Teekay? Add it to your watchlist.
At the time thisarticle was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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