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: Illumina (Nasdaq: ILMN) shares bounced 10% in early trading, after earnings beat analyst estimates.

So What: Earnings per share, excluding special items, came in at $0.30, above analysts' projections of $0.24. Revenue of $237.3 million soundly beat estimates of $218.3 million.

Now What: Net income increased 100% year over year, and the company beat estimates for the fourth straight quarter -- a quality I look for in a growth stock. These are great results for Illumina, as demand for its research tools picks up. The stock has since pulled back from its midday peak, creating a better buying opportunity for this Motley Fool Stock Advisor pick.

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