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: MasTec (NYSE: MTZ) shares popped 13% on Thursday after the specialty contractor released earnings that beat expectations.

So what: MasTec revenue was up 59% to $632 million, helped by acquisition Precision Pipeline. Earnings per share of $0.35 beat Wall Street's estimate of $0.28, and full-year guidance was increased to $0.99.

Now what: Just yesterday, Quantas Services (NYSE: PWR) tumbled on a weak outlook, but MasTec, which deals with generally smaller projects, doesn't seem to be running into the same issues. Quantas' loss seems to be MasTec's gain, because management was very bullish on future demand. MasTec's diversified business looks strong going forward, so I'm buying this report and think there's more to come.

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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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