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 Logitech International (NASDAQ:LOGI) soared 22% today after the computer accessories company's quarterly results and outlook topped Wall Street expectations.

So what: The stock has soared over the past year on improving fundamentals, and today's blowout third quarter -- adjusted earnings per share of $0.35 on revenue of $627.9 million versus the consensus of $0.22 and $534.4 million -- coupled with upbeat full-year guidance only reinforces that trend. In fact, Logitech's retail growth categories -- tablet accessories, audio, and PC gaming -- combined for a 62% surge in sales from the year-ago period, suggesting that management is investing in all the right places in order to return to profitable and rapid growth.

Now what: Management now sees full-year 2014 operating income of $120 million-$125 million on revenue of about $2.1 billion, up from its prior view of $100 million and $2 billion. "We're encouraged by the robust sales in our growth categories, as well as the success of our ongoing initiatives to improve profitability, which includes the earlier-than-expected return to profitability of LifeSize," said President and CEO Bracken Darrell. "We still have more work ahead, but our turnaround is on track as we continue to build a faster and more profitable Logitech." Of course, with the stock now up a whopping 160% over its 52-week lows and trading at a 30-plus forward P/E, much of that bullishness might already be baked into the price.