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 Spectrum Brands (NYSE: SPB) soared close to 13% in early trading after reporting a healthy third-quarter profit that beat consensus estimates by $0.07 a share.

So what: The consumer-durables specialist, whose products include Remington shavers and Rayovac batteries, reported a 23% rise in Q3 revenue, to $804.6 million. Adjusted profits increased 35% to $0.66 a share. Analysts were expecting $0.59 on $790.3 million in revenue.

Now what: The blowout and ensuing rally seems well deserved. But with the stock now trading for almost 13 times forward earnings-- a noticeable premium to the earnings growth rate analysts expect -- investors buying here need to know they’re buying with a presumption for outsized growth. Are you OK with the premium? Weigh in using the comments box below.

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