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 Mylan (NASDAQ:MYL), a hybrid biopharmaceutical company that develops branded and generic pharmaceuticals, jumped as much as 11% after the company reported its fourth-quarter earnings results before the opening bell this morning.

So what: For the quarter, Mylan delivered a 5% increase in revenue to $1.81 billion, with foreign currency translation weighing on its results by negative 2%. Mylan recognized a 45% year-over-year reduction in revenue from new product launches, but it had that more than made up by double-digit generic growth from its rest of world segment. Adjusted EPS for the quarter increased 20% from the prior year to $0.78. By comparison, Wall Street had been forecasting just $0.75 in EPS (the $1.81 billion in revenue matched expectations). Looking ahead, Mylan is projecting full-year fiscal 2014 revenue of $7.8 billion-$8.2 billion and EPS of $3.25-$3.60. The Street has been forecasting EPS of $3.43 and revenue of $7.73 billion. Also moving shares, as reported by Bloomberg, were comments made by CEO Heather Bresch in a meeting with analysts that the company may be on the acquisition hunt.

Now what: Chalk up another great quarter for Mylan and shareholders. Mylan continues to benefit from both worlds -- enjoying the higher margins associated with branded drugs while feasting off of the finite patent protection period of already approved therapies, which creates a nearly endless stream of generic possibilities. This hybrid pharmaceutical combination turns these companies into cash-flow machines. With double-digit growth expected in 2014 and Mylan valued at a mere 17 times forward earnings, I'd suggest there's a good chance its shares may head even higher.

Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.

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