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 Education Management (Nasdaq: EDMC) were up as much as 12% today, probably because investors gave a B+ to rival DeVry's (NYSE: DV) quarterly results, instead of the expected D.

So what: As fellow Fool Alyce Lomax reported today, DeVry's results were quite welcome after the for-profit education sector had been placed in a months-long timeout by investors. The reason? Threats of new federal regulations and declining enrollment.

Now what: I agree with Alyce that the industry is facing some headwinds in continued economic sluggishness and debt-weary consumers. However, high unemployment may still provide a catalyst as job seekers look to sharpen their skills. Hard to say, but we'll get an even clearer picture when Education Management reports earnings on Feb. 9.

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