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 Parametric Technology (Nasdaq: PMTC) are soaring higher today to the tune of 29% after the company reported strong fourth-quarter earnings.

So what: Fourth-quarter revenue added up to $341.3 million, which turned into $0.47 in earnings per share. Both figures toppled consensus estimates, which were $324.9 million in sales and $0.43 in earnings per share.

Now what: The company has now begun providing forward-looking guidance, and sees first-quarter 2012 revenue in the range of $305 million to $320 million and earnings per share of $0.28 to $0.32. For the fiscal year 2012, Parametric is forecasting roughly $1.3 billion in sales and earnings per share of $1.48 to $1.52. Following up the strong quarter, ThinkEquity has initiated coverage on the stock with a "buy" rating and a $25 price target.

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