Chicago Bridge & Iron Shares Popped: What You Need to Know

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 Chicago Bridge & Iron (NYS: CBI) rose more than 10% in early trading after announcing strong third-quarter results and higher 2011 guidance.

So what: Q3 revenue rose 38% to $1.26 billion. Per-share earnings grew at a similar clip, from $0.52 to $0.72 a share. Analysts were expecting $1.17 billion and $0.65 a share, respectively, according to data compiled by Yahoo! Finance.

Now what: Most importantly, the civil engineering firm added $0.05 a share to both the top and bottom end of a full-year forecast issued in the second quarter -- putting Chicago Bridge & Iron on track to earn $2.40 to $2.50 a share in 2011. That's ahead of the sort of long-term profit growth analysts expect, and it's sure to please those who've given the stock a five-star rating in Motley Fool CAPS. Do you agree? Would you buy shares at current prices? Please weigh in using the comments box below.

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At the time thisarticle was published Fool contributorTim Beyersis a member of theMotley Fool Rule Breakersstock-picking team. He didn't own shares in any of the companies mentioned at the time of publication. Check out Tim'sportfolio holdingsandFoolish writings, or connect with him onGoogle+or Twitter, where he goes by@milehighfool. You can also get his insightsdelivered directly to your RSS reader.Try any of our Foolish newsletter servicesfree for 30 days. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.

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