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 Camelot Information Systems (NYSE: CIS) jumped as much as 16% briefly in a spike early in intraday trading Friday.

So what: This morning, the company reported revenue that jumped 51.7% from last year to $53.6 million, and net income increased 48.3% to $5.1 million in the quarter. Revenue beat expectations by $3.2 million, and earnings per share were in line with estimates.

Now what: Guidance is really what got someone excited when the company said it expects earnings of $0.20 per share next quarter, a penny above estimates. That gave volume and shares a spike early in trading although the frenzy died off pretty quickly. Everything was slightly better than expected, but the 16% pop was probably a bit overdone; shares are now up a more reasonable 5% for the day.

Interested in more info on Camelot Information Systems? Add it to your watchlist.

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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