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 NewMarket (NYSE: NEU) jumped 17% today after the company crushed earnings estimates.

So what: Total revenue grew 10.8% to $562.7 million as the petroleum additives strengthened during the quarter. Net income rose 34% to $66.5 million, or $4.96 per share, both easily topping estimates.

Now what: The growth has really shocked investors, and I don't think it's been priced into the stock yet. Shares are trading at 15 times trailing earnings, a good value for a company that increased earnings 34% in the quarter. I like the long-term value here and think shares can continue to rise after this great earnings report.

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