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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: Session border control leader Acme Packet (Nasdaq: APKT ) is up 10% in late trading, after it announced Etisalat Lanka will be deploying its technology in Sri Lanka.
So what: Etisalat Lanka is a wholly owned subsidiary of UAE based Etisalat Telecommunications Corporation, and is migrating to an all-IP network. No financial details were released, but the company expects the deployment to help maximize revenue on international calls.
Now what: Acme Packet is a first mover in online telephone and appears to be getting some real traction in the area. This stock isn't for value investors with a price/earnings ratio of 86, but our Motley Fool Rule Breakers team likes the high growth space, and has made it a recent recommendation. At the risk of missing out on a stock headed straight up, I will wait for a better entry point than the 52-week high we hit today.
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