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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 digital media transport specialist Silicon Image (Nasdaq: SIMG ) posted a mind-blowing 44% jump over last night's closing price in early trading today on equally mind-boggling trading volume.
So what: Silicon Image reported third-quarter sales 20% ahead of analyst estimates and more than three times expected earnings. In the understatement of this earnings season, CEO Camillo Martino said that "Silicon Image experienced another positive quarter."
Now what: Driven by especially strong results in Japan and strong early adoption of the new MHL standard for mobile media connections, Silicon Image is turning heads with this report. I have been a skeptic of this company's relevance to the future of digital media, but the proof is in the pudding. The stock has now tripled from 52-week lows.
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