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 fruit and vegetable producer Dole Food (NYSE: DOLE) jumped 12% Friday after the company's quarterly results topped Wall Street expectations.

So what: Dole's fourth-quarter loss narrowed significantly -- adjusted EPS loss of $0.05 versus a loss of $0.41 in the year-ago period -- despite declining revenue, suggesting that profitability is just around the corner. While fresh fruit sales remain weak, management's cost-cutting initiatives continue to steadily improve the bottom line.   

Now what: Don't let today's rally keep you from looking into the stock. "Going forward, we continue to be encouraged by consumer acceptance of our new product introductions as well as the strength of our core products," said CEO David DeLorenzo. With the stock still down about 25% from its July highs and currently trading at a forward P/E of eight, there should be plenty of upside left to buy into that optimism.  

Interested in more info on Dole? Add it to your watchlist.