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 Nordson (Nasdaq: NDSN) rose as much as 16% today after the company reported better-than-expected earnings.

So what: Fiscal first-quarter revenue of $276 million topped analyst expectations of $274.1 million in revenue. Earnings per share of $0.62 also topped estimates by $0.02.

It was second-quarter estimates that got investors really excited. The company expects to earn $0.83 to $0.91 per share, easily beating the consensus estimate of $0.77, and revenue is expected to be between $313 million and $326 million, at the high end of estimates.

Now what: Sales rose just 2% in the quarter, and next quarter's earnings will be down from last year, so I'm not quite as pumped about the earnings beat as Wall Street is today. Shares are trading at 17 times earnings, and the company will have to grow to justify that price. I'll sit out today's move and wait for a better value opportunity to jump in.

Interested in more info on Nordson? Add it to your watchlist by clicking here.

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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