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 Manhattan Associates
So what: Second-quarter revenue increased 14% to $88.4 million, and earnings per share excluding nonrecurring items were $0.65 per share. Analysts were only expecting $83.2 million in revenue and $0.45 per share in earnings.
Now what: Guidance range for 2011 was also increased $0.10, to $1.97 to $2.02 per share on management's increase confidence in operations. Manhattan Associates' strong balance sheet and $110.3 million in cash make this a growing stock that can provide investors with a little safety as well. I like the move today and think shares still have room to run higher.
Interested in more info on Manhattan Associates? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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