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 communications-equipment maker JDS Uniphase (Nasdaq: JDSU) jumped 10% today after the company released earnings.

So what: Earnings improved dramatically, from $0.05 per share last year to $0.16 this year, topping estimates by two cents. Revenue was up 86% to $454 million, also beating analyst estimates of $448 million in revenue.

Now what: JDS Uniphase's stock is on a roll, already having climbed 44% so far this year. As telecom companies invest in updating their fiber-optic networks, JDS Uniphase should continue to grow, particularly in tunable lasers and ROADM sales. I expect the momentum to continue, considering the strong growth and improving profitability.

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Fool contributor Travis Hoium has no 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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