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: Titan International (NYSE: TWI) shares jumped 14% in trading today on strong third-quarter earnings.

So what: Earnings per share of $0.11 crushed analyst estimates of $0.03 and revenue of $222.8 million topped estimates of $172.5 million. This follows a solid second quarter that sent shares up 23%, and management pointed to a good 2011.

Now what: Titan International, which manufactures wheels and tires, is on a roll since reporting losses through the fourth quarter of 2009. On Oct. 1, the company bought back $138.9 million of debt, showing management's confidence in future operations. I'm not buying today, given a higher valuation than competitor Carlisle Companies (NYSE: CSL). But given improving conditions, I wouldn't stand in the way of this stock. 

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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his Motley Fool CAPS picks at TMFFlushDraw.

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