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: The retail sector stayed hot today as shares of Guess? (NYSE: GES) jumped 10% after the company reported solid earnings.

So what: Revenue grew 17% to $613.9 million and earnings rose to $69.1 million, or $0.75 per share, both crushing analyst estimates. The company's guidance also topped expectations at $710 million to $730 million in revenue and $1.02 to $1.06 in earnings per share, pushing Credit Suisse to increase estimates through 2012.

Now what: After yesterday's buyout of J. Crew (NYSE: JCG), the retail sector is getting red-hot just in time for the holidays. I don't usually like to jump on a freight train while it's moving, but Guess?'s numbers were so far above expectations that I think this ride goes a bit further. With the buyout possibility hanging over the sector and now great earnings, there should be plenty of catalysts for a move higher.

Interested in more info on Guess? Add it to your watchlist.