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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 AsiaInfo-Linkage (Nasdaq: ASIA ) , which supplies software to telecom carriers, rose more than 10% in early trading on less than half the average daily volume. The stock closed up 8%.
So what: No particular news drove the gain. Instead, the rally seems to be a response to sharp selling in the wake of good but not spectacular fourth-quarter revenue guidance. (Q3 results also beat estimates.)
Now what: Seeing value hunters move in makes sense. As of this writing, the stock trades for about half the long-term earnings growth rate analysts expect. Do you think they’re right? Would you buy shares of AsiaInfo-Linkage at current prices? Please weigh in using the comments box below.
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