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 craft brewer and Motley Fool Stock Advisor pick Boston Beer (NYSE: SAM) bubbled up more than 10% in intraday trading as investors happily imbibed the company's third-quarter earnings.

So what: The maker of Sam Adams beer posted third-quarter earnings per share of $1.09, well ahead of the $0.87 that analysts had expected. Sales also topped expectations as the $125 million tally was 14% above last year's third quarter. The revenue growth was driven by increased core shipments, which were also up 14%. The brewer held its 2010 full-year earnings per share forecast at a range of $2.85 to $3.15.

Now what: Always with an eye toward bringing its customers the best beer possible, Boston Beer is launching the "Freshest Beer Program" with an aim toward reducing the time that wholesalers hold inventory. The company hopes this will not only get fresher product to its customers, but also improve the company's overall efficiency. The competitive environment for Boston Beer is tough as it has to tangle with giants like Molson Coors (NYSE: TAP), Diageo (NYSE: DEO), and Anheuser-Busch InBev (NYSE: BUD), and the company expects that 2011 will be affected by some moves to both ward off competition and help grow the brand. That, along with the unknown impact of the Freshest Beer Program, is making visibility into the coming year a little difficult, but if past results are any indication, investors should be pretty comfortable that management knows what it's doing.

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Boston Beer is a Motley Fool Stock Advisor recommendation. Diageo is a Motley Fool Income Investor pick. The Fool owns shares of Diageo and Molson Coors Brewing. 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.                                                         

Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy assures you no Wookiees were harmed in the making of this article.