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 organic light emitting diode (OLED) pioneer Universal Display (Nasdaq: PANL) were shining bright today, gaining as much as 20% after the company announced fourth-quarter earnings.

So what: What a difference a day makes. Just yesterday Universal Display shares took a dive along with major Japanese electronics manufacturers Sony (NYSE: SNE) and Panasonic (NYSE: PC) as investors worried that the fallout from the natural disaster and ongoing nuclear problems in Japan could hurt the electronics market. Those fears seem to have been largely forgotten today as investors feasted their eyes on better-than-expected fourth-quarter results. Fourth-quarter revenue of $10.8 million was more than double that of 2009 and well above the $7.5 million expected by Wall Street. And though the company's net loss widened, after adjusting for the loss on a stock-warrant liability, the bottom line was better than analyst estimates as well.

Now what: In the company's press release, CEO Sidney Rosenblatt said, "With revenues for the year almost doubling, fiscal 2010 may well be regarded as the year PHOLED technology officially migrated out of the laboratory and into the lives of millions of consumers." If that's not a CEO brimming with confidence, I don't know what is. Universal Display's lack of profitability and yet-emerging market make the stock a speculative one, but it certainly seems that the company has things moving in the right direction.

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Universal Display is a Motley Fool Rule Breakers pick. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.                                       

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.