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 industrial-parts maker EnPro Industries (NYSE: NPO) ran on fortified diesel today, shooting up to 16.7% gains in pre-market action before settling down to a more modest 14% overnight jump amid heavy daytime trading.

So what: EnPro's first quarter delivered $0.92 of adjusted earnings per share on sales of $270 million. Analysts would have settled for $0.69 and $232 million on those metrics, respectively.

Now what: "Our strong sales growth was driven by higher demand for most of our products," said CEO Steve McAdam, boosted further by successful acquisitions and near-record engine sales. The underlying markets for diesel-powered trucks and industrial gear are strong, as shown by Meritor's (Nasdaq: MTOR) terrific report earlier this week. After lagging the S&P 500 for a number of years, engine and powertrain stocks are coming back strong in 2010 and 2011.

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