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 supplier Harman International (NYSE: HAR) jumped 13% today after the company released earnings.

So what: Adjusted earnings per share of $0.79 easily topped estimates of $0.52, despite second-quarter revenue of $956.1 million falling just short of estimates. A 1% increase in gross profit helped push more sales dollars to the bottom line.

Now what: Management was very positive on the future for Harman, and the $13 billion in awarded business is certainly an impressive indicator going forward. If auto sales, where Harman gets 69% of its revenue, remains strong, then the company should at least manage to keep results at these levels. Since bottoming out below $10 in 2009, Harman shares have steadily marched higher. Improving results give me no reason to think the momentum will stop here

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