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 China-centric private educator New Oriental Education & Technology Group (NYSE: EDU) are soaring as much as 11% today on moderately heavy trading volume.

So what: New Oriental just handed in its third-quarter report card, and it's full of A's. Earnings came in 25% above analyst targets on a 9% revenue surprise as the company builds out an impressive network of schools.

Now what: The impressive part here is the ability to raise revenues at such a fantastic rate on "only" 17.8% higher total enrollment year-over-year. New Oriental's test prep services are in high demand, led by 140% stronger sales of its personalized instruction programs. New Oriental's market-leading performance is distancing the stock from smaller and less efficient rivals Ambow Education Holding (NYSE: AMBO) and China Distance Education Holdings (NYSE: DL).

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