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 direct marketing specialist Harte-Hanks (NYSE:HHS) were soaring today, climbing as much as 23%, after reporting quarterly earnings.

So what: Harte-Hanks posted adjusted earnings per share of $0.24, $0.05 ahead of expectations, but revenues declined 5% and missed estimates. Sales in its direct marketing segment dropped 6.3%, partly due JCPenney's decision to transition away from direct marketing and to broadcast media. For 2013, the company has a number of new strategies planned, including a new approach to the pharmaceutical market, digital print capabilities, and software development. Management said results should begin to improve in the second half of 2013, and accelerate into 2014.

Now what: Today's jump seemed to come from management's optimism about improvements later in the year. Analysts had been predicting a 5.5% drop in revenue and flat EPS, but CEO Larry Franklin said that he sees slightly increased revenue and operating income this year. Today's jump may be somewhat exaggerated, but the company's current 4.4% dividend yield acts as its own price floor.

Don't miss the next update on Harte-Hanks.

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