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 mailing equipment maker Pitney Bowes (NYSE:PBI) jumped as much as 14% today before settling to a 9% gain after reporting earnings.

So what: Third-quarter revenue was down 1% from a year ago, to $939 million, but adjusted earnings per share from continuing operations rose from $0.44 a year ago to $0.49 last quarter. Analysts expected $972.3 million in revenue, so the top line was disappointing, but they only predicted $0.40 in earnings per share, so the clear focus is on the bottom line beat today.  

Now what: The earnings beat was the first time in a year the company has hit expectations, so it's not time to call this a trend. I'm more concerned about flat revenue, which isn't a good sign for any company. I like the moves into digital, but I'm just not a fan of the mail business, and it's growth days are in the past, which will keep me out of the stock today.  

Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.