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: Auto parts supplier BorgWarner (NYSE: BWA) is motoring higher by 12% today after the company raised its full-year earnings outlook for 2012.

So what: BorgWarner gave shareholders a lot to be thankful for in the new year by upping its EPS outlook for 2012 to a range of $5.35-$5.65 and expects revenue to be 10%-12% higher than in fiscal 2011. This compares very favorably to the $5.20 that Wall Street had been expecting from the company in the coming year. Perhaps best of all, BorgWarner's operating income margin is expected to be at 11.5% or better -- a record.

Now what: Just when you think the rally in auto parts suppliers is coming to an end, a company like BorgWarner comes out and completely debunks that theory. It's really hard to argue against a company like BorgWarner that's increasing expectations and margins, but it's also easy to pass on this highflier when you realize it still isn't paying shareholders a dividend. Perhaps when the dividend comes, so will my thumbs-up recommendation on the stock. Until that time, I'm a happy bystander.

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