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 j2 Global (Nasdaq: JCOM) jumped by as much as 12% after the company announced preliminary earnings for its second quarter.

So what: Second-quarter revenues are expected to be between $88.8 million and $89.5 million, with adjusted earnings per share in the range of $0.68 to $0.71, representing record levels in both top and bottom lines. Even the low end of both figures beat the $87.7 million in sales and $0.63 per share profit that the market was looking for.

Now what: The company paid out about $10 million for its regular quarterly dividend and spent another $20 million repurchasing shares. j2 also announced a proposed $250 million senior unsecured debt offering. It would be a private offering, and j2 would use the funds for "general corporate purposes, which may include acquisitions." The official earnings release will come on Aug. 1, but investors can count on a solid quarter in the bag.

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