November 3, 2010
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 Synchronoss Technologies (Nasdaq: SNCR ) rose more than 18% in intraday trading after reporting better-than-expected third-quarter earnings.
So what: The company, which handles wireless and wired device activations for AT&T (NYSE: T ) and Vodafone Group (NYSE: VOD ) , among others, reported $46.8 million in revenue and $0.20 in adjusted earnings per share. Both results beat analyst estimates.
Now what: With Verizon (NYSE: VZ ) expected to get the iPhone early next year and Android rapidly picking up market share in the U.S., Synchronoss could enable millions more wireless activations, leading to continued growth in earnings.
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