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 Leap Wireless International
So what: In the just-reported first quarter, Leap added a lot more wireless subscribers to its Cricket service than anticipated. That led to massive sales but also very high operating costs as one-time costs for those new accounts had to be accounted for. Investors are clearly happy with that trade-off.
Now what: The report also inspired a glowing review from analyst firm Collins Stewart, which raised its target price for the stock to $22 per share and drew favorable comparisons with pay-as-you-go rival MetroPCS
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