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: Network security specialist Fortinet (Nasdaq: FTNT) annihilated analyst expectations in last night's earnings report, sending the stock more than 20% above last night's closing price in intraday trading today.

So what: Fortinet's sales jumped by 29% year over year and earnings got an 88% boost, blowing right past even the most optimistic analyst forecasts with ease. Security solutions for large enterprises is clearly a hot commodity right now, placing Fortinet at the heart of the action.

Now what: In an era when chip giant Intel (Nasdaq: INTC) feels the need to plunk down $7.7 billion for security firm McAfee (NYSE: MFE), a strong competitor like Fortinet starts to look like buyout bait. Whether anybody wants to buy Fortinet outright, we're looking at a very healthy business in high demand, as network security is becoming a top priority for IT managers everywhere. Mind you, this stock is trading at a premium valuation already, which might keep the offers away until further notice.

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