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 TRI Pointe Homes Inc (NYSE:TPH) were looking stronger today, up 10% after turning in a better-than-expected earnings report.

So what: The homebuilder flew past EPS estimates of $0.09 with a profit of $0.15 per share, while revenues jumped 480.2% to $58.6 million, much better than the consensus at $47.8 million. TRI Pointe also benefited from a 57% jump in average home prices to $624,000, and orders for new homes also nearly doubled to 135. The young company, founded in 2009, lifted its full-year guidance to $0.46-$0.48, from $0.40-$0.42, further encouraging the market.

Now what: Last week, TRI Pointe agreed to buy Weyerhauser's (NYSE:WY) homebuilding unit for $2.7 billion, which will make it one of the country's 10 largest homebuilders. And while investors may not be able to expect triple-digit revenue growth every quarter, the Weyerhauser deal gives TRI Pointe considerable room to run. With the housing market still looking up, that should be a boon for TRI Pointe shareholders. I'd expect the stock to keep moving higher.

Fool contributor Jeremy Bowman has no position in any stocks mentioned, and neither does The Motley Fool. 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.