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 accounting and finance staffing company Resources Connection (Nasdaq: RECN) climbed as much as 12% in early Thursday trading after it swung to second-quarter profit.

So what: Driven largely by strong U.S. sales and higher margins, Resources Connection posted quarterly earnings of $17.5 million, or $0.38 a share, easily topping the average analyst estimate of just $0.07 a share. The economic downturn weighed heavily on Resources Connection's bottom line as clients delayed projects, but with the help of its 2009 acquisition of public-relations firm Sitrick & Co., it has returned to profitability over past few quarters. 

Now what: I wouldn't jump into Resources Connection just yet. Things are certainly looking up for the company, but with the stock now up more than 40%, and trading at a 30-plus forward P/E, investors might be a little too optimistic. Of course, with enough of a pullback, Resource Connection's capital-light business model seems worth buying into.

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

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

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