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 online recruiter Monster Worldwide (NYSE: MWW) jumped as much as 17.5% today after announcing earnings that beat expectations.

So what: This isn't a case of great growth, but rather an earnings report that wasn't as bad as analysts had expected. Revenue fell 6% to $246.1 million, and earnings per share were $0.04. Analysts had expected $240 million in revenue and a $0.02 profit per share.

Now what: The report may have beaten expectations, but I'm not even thinking about jumping into these shares right now. Revenue is also expected to decline in the second quarter, and earnings per share are only expected to be between $0.04 and $0.08. With shares trading at 20 times forward estimates, I'll look for a company that's growing instead of contracting if I'm going to pay that price.

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