Korn/Ferry Shares Jumped: What You Need to Know
Nov 30th 2011 2:19PM
Updated Nov 30th 2011 2:26PM
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 executive recruiter Korn/Ferry (NYS: KFY) jumped as high as 11.1% on average trading volume.
So what: A global consortium of central banks has come together with a plan to ease sovereign debt troubles and relieve the strain they're placing on local economies and private business. If businesses start hiring instead of firing, Korn/Ferry and sector rivals would see a golden age.
Now what: Other jumpers (up, not off the ledge) today include Heidrick & Struggles (NAS: HSII) , ManpowerGroup (NYS: MAN) , and Robert Half International (NYS: RHI) . An equal-weighted portfolio made up of these stocks would have lost 16% over the last year while the Dow Jones Industrial Index (INDEX: ^DJI) gained 8%, but they're jumping twice as high as the Dow today. You can see the talent-search specialists as an easy-to-read proxy for the job market's prospects -- and right now, the patient might be on the mend.
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At the time this article was published
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