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 asset manager Walter Investment Management (AMEX: WAC) surged 17% Tuesday after its second-quarter results impressed investors.

So what: Walter's adjusted income of $0.23 per share was just in line with analyst estimates, but given the stock's 30% beating over the past few weeks, it's no surprise that only "decent" results are fueling a big bounce. During the quarter, Walter also completed the acquisition of loan servicer Green Tree Credit Solutions, possibly signaling the start of a new, higher-growth period for the company.

Now what: Don't let today's pop keep you from looking into Walter. "[T]he secular shifts in the industry which motivated us to make this strategic acquisition have continued to gain momentum," said Chairman and CEO Mark O'Brien. "We believe Walter Investment is well-positioned to capitalize on these opportunities, allowing us to significantly grow revenues from recurring, fee-based sources with high operating margins." With the stock still sporting a juicy dividend yield of 9%, Walter's total-return potential seems worth considering. 

Interested in more info on Walter Investment Management? Add it to your watchlist.