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 audio equipment specialist Harman International Industries
So what: Harman said it swung to a first-quarter profit of $27 million, or $0.39 cents a share, which was much higher than the average analyst estimate of $0.27 a share. The company has certainly benefited from rebounding consumer and automotive spending over the past year, as today's results mark Harman's fourth consecutive profitable quarter.
Now what: While I wouldn't be comfortable about jumping into Harman right now, starting a small position on any pullback might not be a bad idea. Even with today's 15%-ish pop, the shares are still off about 25% from its 52-week highs set in April. Of course, given its high exposure to auto spending, buying Harman in a basket with its larger, more diversified consumer electronic foes Sony
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Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Fool's disclosure policy always gets a perfect score.