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: After starting the day with a 13% pop, shares of Responsys (NASDAQ: MKTG) have settled into a gain of about 7%. Investors seem willing to overlook a rather mixed combination of earnings report and forward guidance, and are focusing on the positive today.

So what: Responsys reported second-quarter revenue that rose 25% year over year to $49.5 million, ahead of the $46.2 million consensus. On the other hand, the company's reported earnings of $0.02 per share only met expectations. Looking ahead, Responsys now expects revenue in the $47 million to $48.5 million range and earnings of approximately $0.02 per share for the third quarter. As with the current report, this guidance beats the top-line estimate ($46.8 million), but falls short of the EPS estimate ($0.04).

Responsys' full-year guidance is likewise an outperformer on the top line and an underperformer on the bottom line. The company upgraded its revenue guidance to the $195 million to $198 million range, above Wall Street's $192.1 million consensus, but lowered its EPS target to $0.15, $0.03 lower than both its prior guidance and Wall Street's expectations.

Now what: Responsys has now gained 50% in the past year and nearly 170% since the start of 2013. Investors don't seem to care that the company's profitability is less assured than it was before this report. Should you care? I'd dig a little deeper, but I'm not sure what numbers exist to support this near-term optimism. An adjusted forward P/E that remains in triple-digit territory isn't exactly flashing the "buy" signal.

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