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 energy-focused engineering company Pike Electric (NYSE: PIKE) jumped as much as 18% in intraday trading today after the company reported fiscal-second-quarter results.

So what: For the quarter, Pike reported $148.6 million in revenue, a 10% bump from last year and well above the $133 million that analysts had estimated. Earnings per share of $0.03 also topped an expected per-share loss of $0.01.

Now what: Pike's results appear to be moving in the right direction and that's no doubt a relief for investors who have watched the company struggle over the past year. Most valuation multiples don't look particularly attractive today thanks to the depressed results, but if the company continues its recovery, today's share price could end up looking like a deal .

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Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.