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 Delta Air Lines (NYSE: DAL) flew 10% higher today as investors cheered the airline operator's quarterly results and revenue forecast.

So what: While Delta's first-quarter loss widened to $318 million, or $0.38 cents per share, it was still less than the $0.50 per share loss that analysts were expecting. A sharply higher fuel bill was naturally the biggest culprit in the loss, but revenue-boosting fare hikes helped Delta offset some of the damage.

Now what: With Delta now forecasting double-digit revenue gains for the June quarter, the short-term skies look fairly smooth. In fact, fellow airliner US Airways (NYSE: LCC) is also up nicely today on impressive top-line growth, further confirming the early signs of strong summer demand. Of course, for most investors, sky-high oil prices -- not to mention the huge fixed-costs, labor unions, and cutthroat competition associated with the industry -- makes Delta a particularly poor long-term pick.

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