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 industrial engineering firm Robbins & Myers (NYSE: RBN) look precision-crafted today, rising as much as 10.3% on extremely heavy trading.

So what: The third-quarter report, filed Wednesday morning, matched analyst targets on the bottom line while blowing away sales estimates. For an encore, Robbins & Myers raised full-year guidance, citing great sales of oilfield and pipeline services through recent acquisition T-3 Energy Services.

Now what: The stock has more than doubled over the last year, helped along by four straight top-notch reports. Robbins & Myers has refined its operations by buying into the oilfield industry and selling a pharmaceutical equipment subsidiary, and the changes have already improved the business considerably. This triumph is the company's own, not a sector effect, as market peers Colfax (NYSE: CFX) and Flowserve (NYSE: FLS) hardly moved on the news. Better yet, the second half of 2011 is shaping up even stronger for Robbins & Myers and its oilfield friends.

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