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 Syntel (Nasdaq: SYNT) jumped today by as much as 18% after the company reported first-quarter earnings.

So what: Revenue climbed to $170.7 million, which was a little shy of the Street's expectations. On the other hand, the earnings per share of $0.98 more than made up for it by toppling the consensus estimate of $0.75.

Now what: CEO Prashant Ranade said the company saw stable trends in client spending and plans to continue making additional investments in the business. Looking forward, full-year guidance calls for revenue of $730 million to $755 million with earnings per share between $3.40 and $3.65, which are better than what investors were expecting.

Interested in more info on Syntel? Add it to your Watchlist.