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 home furnishing company Ethan Allen (NYSE: ETH) jumped as much as 20% today after the company reported earnings.

So what: Revenue grew 21% to $173.3 million and earnings were $14.7 million or $0.51 per share, crushing analysts' expectations of $0.09 per share. Retail sales drove much of the gains as more confident consumers came back into showrooms in the fiscal second quarter.

Now what: This quarter alone blew past analysts' expectations for fiscal 2011 earnings per share, so this stock has a long way to go before catching up. Management gave very bullish comments about the current quarter as well, so it looks like this quarter was more than just a one-hit wonder. I think Ethan Allen has further to run given the incredible blowout of expectations.

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