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: Avis Budget Group (NYSE: CAR) shares jumped 12.2% in intraday trading today after the company reported a higher third-quarter profit.

So what: Avis reported a 3% increase in revenue, and its third-quarter results gave investors some fuel for their enthusiasm. It looks like consumers and business travelers are traveling more, which bodes well for Avis' rental car services.

Now what: Investors might want to put the brakes on their runaway enthusiasm for Avis shares today, though. The economy is not out of the woods yet, and Avis still faces rivals like Hertz (NYSE: HTZ). Meanwhile, Avis said it needs more money to pay for its proposed acquisition of rival Dollar Thrifty (NYSE: DTG), and it faces antitrust issues as well; that sounds like a red flag more than a green light when it comes to snapping up Avis shares at the moment.

Interested in more info on Avis? Add it to your watchlist by clicking here.

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.

Alyce Lomax does not own shares of any of the companies mentioned. The Fool has a disclosure policy.