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 employment resource Monster Worldwide (NYSE:MWW) are up 18% today, despite a huge GAAP loss on the bottom line. Adjusted earnings beat analyst expectations, and the potential sale of Monster's Chinese segment also appealed to investors. Forward guidance was also above what Wall Street had expected.

So what: Monster's revenue, at $221.7 million, was 11% lower than the year-ago quarter's result ,and also lower than the consensus expectations of $234 million. Adjusted earnings per share, however -- and they were heavily adjusted -- came in at $0.09, ahead of the consensus of $0.05 in earnings per share. On a GAAP basis, Monster lost $194.2 million, for a $1.75 loss per share. Much of the losses were the result of restructuring charges and other one-time charges.

Monster anticipates fourth-quarter adjusted earnings per share of between $0.05 and $0.10, which hits the analyst consensus of $0.05 on the low end. Full-year adjusted EPS guidance was given at $0.29 to $0.34, well ahead of the consensus estimate of $0.20.

Now what: Selling off segments to generate a quick burst of cash might be good for the short term, but Monster's apparent abandonment of potentially lucrative regions doesn't bode well for its long-term growth. Monster's EPS guidance, despite coming in ahead of expectations, is also lower than its most recent trailing 12-month results. There just doesn't seem to be enough on the table to justify digging in after the best cuts seem to have already been carved off with today's pop.

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Fool contributor Alex Planes holds no financial position in any company mentioned here. Add him on Google+, or follow him on Twitter @TMFBiggles for more news and insights. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.