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 recreational products company Brunswick (BC -1.58%) popped as much as 11% after reporting its fourth-quarter earnings results.

So what: It was a mixed quarter for Brunswick, which recorded a 9% rise in revenue to $829.8 million as it squeaked by with a $0.02 profit. Relative to Wall Street's estimates, the company was shy by more than $19 million in sales but eclipsed the consensus EPS estimate of a loss of $0.07 by a wide margin. Furthermore, Brunswick's 2013 guidance calls for EPS in the range of $2.20-$2.45 and revenue to increase by 3%-5%. Wall Street's current estimates are for EPS of $2.24 on a 1% improvement in revenue.

Now what: Even with an in-line estimate for 2013, I still can't say I'm particularly excited about Brunswick's prospects. Domestically, higher taxes on upper-income earners are going to drag on boat purchases for which Brunswick is a major parts and accessories supplier. In addition, Europe is in little shape to mount a comeback and will continue to drag on Brunswick's results. Based on its latest rally, I'd call shares more than fully valued here.

Craving more input? Start by adding Brunswick to your free and personalized Watchlist so you can keep up on the latest news with the company.