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 Colfax (NYSE: CFX) jumped 14% today after the company released earnings.

So what: Fourth-quarter adjusted earnings per share of $0.39 beat analyst estimates of $0.33, as revenue was more robust than expected. Colfax also announced it was acquiring Rosscor Holding B.V., a supplier of multiphase pumping technology based in the Netherlands.

Now what: Colfax has consistently beaten estimates for the past five quarters, and with sales rising 27.2% this quarter the future looks bright. The company is trading with a forward P/E ratio of 19.5 even after today's jump, and considering the growth, it just might be worth it. I would like to see a pullback after the exuberance passes, but long term I like where Colfax is headed.

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