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 Chinese advertising specialist Focus Media Holding (Nasdaq: FMCN) climbed as much as 10.5% Wednesday after its quarterly results topped Wall Street's expectations.

So what: On a 44% jump in revenue, Focus Media said it swung to a profit of $47.2 million, or $0.33 per share, versus a loss in the year-ago period of $57 million, or $0.42 per share. Driven by a steadily improving advertising market in China, the results mark Focus Media's third straight quarterly profit after an ugly string of six consecutive quarters of losses.

Now what: Management expects that operating momentum to continue into 2011. In fact, Focus Media managed to top Wall Street's estimates for the current quarter as well, forecasting earnings of $36 million to $38 million on core revenues between $122 million and $124 million. With such attractive top-down and bottom-up trends working in its favor, Focus Media is certainly worth looking into.

Interested in more info on Focus Media? Add it to your watchlist.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

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