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 oil and gas services and production company Helix Energy (NYSE: HLX) were spiking today, gaining as much as 17% in intraday trading on heavy volume.

So what: It was a blowout quarter for Helix as earnings per share clobbered analysts' estimates. Per-share profits of $0.39 reversed an $0.82 loss from last year and bounded past the $0.19 that Wall Street was expecting. Total revenue of $338 million also topped the $316 million that was expected. The quarterly performance was driven by big gains in oil and gas production as contracting services slid.

Now what: Not enough for you? Well, you can add to that the fact that the company bumped up its full-year production outlook from 49 billion cubic feet equivalent to 50 BCFE. It also increased its capital expenditure outlook for the year by 22%, suggesting a very optimistic outlook on what's ahead.

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Fool contributor Matt Koppenheffer does not have a financial interest in any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or Facebook. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.