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 electrical equipment and components manufacturer AZZ (NYSE: AZZ) jumped as much as 19% in trading today after the company released earnings.

So what: Revenue rose 11% to $127 million in the first quarter and the company now expects full-year revenue to be $550 million. Earnings per share of $0.96 easily topped analyst estimates of $0.81 per share and management now expects full-year earnings per share of $4.10-$4.30, much higher than previous estimates.

Now what: Beating earnings estimates is always positive, but this earnings report crushed what analysts had expected. Shares now trade at slightly under 15 times 2012 earnings and momentum is headed in the right direction. I think shares can continue to move higher and AZZ will outperform the market throughout the rest of the year.

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