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 health-care-service company servicer MedAssets (Nasdaq: MDAS) were looking pretty darn healthy today, rising as much as 13% in intraday trading after the company reported first-quarter results.

So what: For the quarter, revenue climbed nearly 15% to $150 million, primarily on the strength of 17.6% growth in the company's spend and clinical resource management division. Wall Street analysts had been expecting the company to report sales of $142 million. On the bottom line the company reported a net loss, but, after adjusting for items such as big, acquisition-related expenses, it showed an adjusted profit per share of $0.24. That was up 41% from a year ago and better than the $0.18 that analysts were expecting.

Now what: Could the report have been better? Sure. Investors like it even more when a company not only beats current-quarter estimates but also raises full-year guidance above future estimates. In MedAssets' case, the company's guidance was essentially in line with analysts' expectations for fiscal 2012, if not just a bit light.

But for right now, a good-looking first quarter and a solid outlook for the full year appears to be enough to get investors jazzed about MedAssets.

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