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 Moody's (NYSE: MCO) jumped as much as 10% today after the company released earnings.

So what: First-quarter revenue increased 23% to $412.6 million as the company benefited from an increase in corporate bond issuance. Earnings per share increased to $0.67 from $0.47 last year and beat estimates of $0.54 from analysts.

Now what: Moody's also increased its full-year earnings forecast 10 cents to a range of $2.22-$2.32 per share. Low rates have led to higher corporate and junk bond issuance, and the industry continues to rely on Moody's to rate those bonds. Unless there are major changes in the industry's reliance on ratings agencies, I think shares will continue to rise.

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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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