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 electrical and communications infrastructure installer MasTec (NYSE: MTZ) are buzzing today, jumping as much as 13.5% on heavy volume after another terrific earnings report.

So what: Analysts would have settled for $0.37 of earnings per share on $650 million in sales, but MasTec delivered $0.44 per share on $731 million instead. That's a beatdown with authority.

Now what: Far from a case of a rising tide lifting every dinghy, rival Quanta Services (NYSE: PWR) once again showed a much weaker hand this morning and is suffering as MasTec celebrates. I'm counting 15 straight quarters of earnings above the analyst consensus, underscoring MasTec's 81% gains over the past six months. This is a heck of a solid business and there's no shortage of communications projects to fuel further gains in the coming years.

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