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: Navistar International (NYSE: NAV) shares jumped 10% in early trading today after the company gave a stronger than expected outlook.

So what: The company expects earnings per share of $5.00 to $6.00, higher than Wall Street's expectation of $4.67 per share. Management expects an improving economy to help sales and lower costs to drive profits to the bottom line.

Now what: At the high end of expectations, the stock now trades just over 10 times 2011 earnings. The bullish expectation from Navistar hasn't translated to competitors like Oshkosh, which trades below 10 times current 2011 expectations. Both companies look to be great values as the economy picks up and earnings drive higher.

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

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 CAPS picks at TMFFlushDraw.

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