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: DeVry (NYSE: DV) shares popped 10.5% in intraday trading today when the for-profit education company reported quarterly results that surpassed analysts' expectations despite a drop in student enrollment.

So what: For-profit education companies like DeVry have elicited skepticism recently, given media attention and the possibility of government scrutiny regarding their practices. For example, loans granted to many of these schools' students tend to correlate to low repayment rates as well as uninspiring graduation numbers.

Now what: Investors should resist getting too excited about DeVry; it revealed that it expects profit growth will be crimped by slowing enrollment in the second half of 2011. Meanwhile, this industry faces its share of challenges that aren't helped by incidents like a recent gaffe by the CEO of Strayer Education (Nasdaq: STRA), when he was quoted blaming negative press for slowing enrollment. For-profit education companies face major near-term hurdles including a dismal macroeconomic climate and overly indebted consumers, so today's burst of optimism may teach some investors a lesson in buyer's remorse.

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Alyce Lomax does not own shares of any of the companies mentioned. 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. The Motley Fool has a disclosure policy.