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: Flextronics International (Nasdaq: FLEX) shares jumped 10% today after the company announced positive earnings.

So What: Yesterday the company released adjusted earnings of $0.23 per share, which beat analyst estimates of $0.20. Quarterly revenue was up 27% to $7.4 billion and guidance of $7.5 billion to $7.7 billion was above estimates.

Now What: Analysts have been concerned that a low 2.9% operating margins leaves little room for error in Flextronics business but this hasn't slowed Flextronics down. With revenue gaining momentum and management pushing toward a higher operating margin of 3.5% I see an undervalued company waiting to breakout. I see this move as a buying opportunity because of solid results and management that is aggressively buying back shares with free cash flow.

Interested in more info on Flextronics International? Add it to your watchlist here by clicking here.

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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