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 specialty grocer The Fresh Market (Nasdaq: TFM) were looking mighty tasty to investors today as shares rose as much as 15% in intraday trading after the company reported first-quarter earnings.

So what: The first quarter -- which ended in April -- was mighty kind to Fresh Market as revenue jumped 23% from last year on a solid 8.2% increase in same-store sales. Profits followed suit as net income leapt 43% and per-share earnings were up a similar percentage. In the context of Wall Street's expectations, Fresh Market's performance was likewise laudable as sales of $325 million and earnings per share of $0.40 topped the estimates of $310 million and $0.36, respectively.

Now what: Looking ahead to the rest of the year, the company's forecast was also encouraging. Management sees same-store sales growth of around 5.5% for the full year as the company opens an additional 15 new locations. On the bottom line, the company expects earnings per share to grow to roughly $1.31 -- above Wall Street's $1.30 estimate -- despite anticipating a higher tax rate than in 2011.

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