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 equipment maker Emulex (NYSE: ELX) jumped 14% today after the company announced that fiscal second-quarter results would be better than expected.

So what: The company said revenue would be between $127 million and $128 million, higher than the $124.1 million analysts had expected. Earnings were also strong and should be $0.24 to $0.25 per share, easily surpassing the $0.17 analysts had expected.

Now what: Management expects 2012 to be strong as well, as it benefits from an OEM server platform refresh cycle. If management can keep up this kind of performance, shares might be a steal trading at 11 times forward earnings. I think the momentum can continue with good execution, and shares will continue to rise in 2012.

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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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