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: VMware (Nasdaq: VMW) popped 13% in intraday trading today after the company reported first-quarter results after the market close yesterday.

So what: Non-GAAP EPS of $0.48 grew 50% year-over-year and met the consensus estimate. GAAP EPS grew 53% year-over-year to $0.29.

Now what: The company's new products for desktops and storage appear to be doing well. Management expects sales for the current quarter of $860 million to $880 million, compared with the consensus forecast of $847 million. Several analysts raised their price target on the stock, suggesting they believe the impressive growth is sustainable.

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