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 refiner CVR Energy (NYSE: CVI) shot 10% higher today after the company released earnings.

So what: Adjusted earnings per share in the fourth quarter were $0.14, beating analysts' estimate of $0.09. Sales were up 24.6% to $1.15 billion in the quarter as Midwest demand was higher than expected.

Now what: The positive results are encouraging, and with Midwest utilization rates leading all U.S. regions in January, the results could continue going forward. Oil prices are still a cloud over refiners, but right now CRV looks to be headed in the right direction. I am bullish on today's move but will keep an eye on oil and gas prices to assess margin risk going forward.

Interested in more info on CVR Energy? 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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