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: Wuxi Pharmatech (NYSE: WX) popped 11% in intraday trading today after reporting better than expected fourth-quarter EPS.

So what: Non-GAAP EPS of $0.24 grew 29% from the year-ago quarter and beat the $0.21 consensus estimate. Revenue grew 20% year over year, driven by 59% growth in manufacturing services revenue.

Now what: Management stated it expects 2011 to be "another strong year," with revenue growth of 17% to 21% and stable margins despite labor cost inflation in China and yuan appreciation. Guidance did not mention net income or EPS but implied 2011 GAAP net income of about $70 million, down 23% from 2010 because of a tax rate increase, and non-GAAP EPS of about $1.06, up 19%. That gives the stock a forward P/E ratio of 16 times (and about 18 times GAAP EPS).

Interested in more info on Wuxi? Add it to your watchlist by clicking here.

Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.