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 Universal Display (OLED 1.10%) have rebounded by as much as 17% today -- following a 16% sell-off on Monday -- after the company reported earnings.
So what: Revenue in the fourth quarter totaled $28.1 million, ahead of the consensus estimate of $26.4 million in sales. That translated into earnings per share of $0.12, which was barely short of the $0.13 per share profit that the Street was expecting. Last year was the second consecutive profitable year for the company.
Now what: UDC also provided guidance for 2013, with revenue expected in the range of $110 million to $125 million. After having to reduce guidance mid-year in 2012, investors are optimistic that UDC can deliver this year as primary customers Samsung and LG are now slowly ramping up OLED TV production. Goldman Sachs is reiterating its buy rating on the stock with a $41 price target and expects visibility to improve in 2013.
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