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 Exterran Holdings (NYSE: EXH) jumped 18% today after the company released earnings and announced a sale of assets.

So what: For the fourth quarter of 2011, Exterran Holdings reported a net loss of $66.6 million, or $1.06 per share, on revenue of $702.9 million. The company also said it would be selling compression and processing assets to Exterran Partners (Nasdaq: EXLP) for $184 million.

Now what: The fourth-quarter loss may be an improvement and better than analysts estimated, but I'm having a hard time getting excited about it. Analysts are still expecting a $1.00 loss per share in 2012, and with the energy business going gangbusters I'm not buying into a company that can't make a profit in this environment. Once Exterran swings to a profit, I may take a look again, but for now I will stick to energy stocks that aren't losing money and sitting on a pile of debt.

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