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 Harman Kardon and JBL parent Harman International
So what: Sometimes the math of a big gain like this is pretty simple. In its first quarter, Harman revealed that revenue rose 26% from last year, to $1.05 billion. Non-GAAP earnings per share, meanwhile, nearly doubled from last year, to $0.69. Analysts were looking for $0.51 in EPS on just $961 million in sales. When a company tops expectations by that much, investors are bound to get rowdy.
Now what: Harman's CEO said that the company is in a "new growth phase" and that it has "strong footholds in each of the BRIC countries." That doesn't sound too bad to me. Investors on the sidelines may want to wait to see if the action calms down rather than trying to chase the rocket-ship gain today, but for current shareholders, this certainly looks like a quarter to be excited about.
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Fool contributor Matt Koppenheffer does not have a financial interest in any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or Facebook. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.