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 supply chain company UTi Worldwide (Nasdaq: UTIW) rose 11% today after the company released fiscal-second-quarter 2013 earnings.

So what: Revenue fell 10.9% to $1.16 billion and net income fell to $18.9 million, or $0.20 per share after adjusting for one-time items. Both results were well below expectations, which were for $1.28 billion in revenue and $0.23 in earnings per share. So why is the stock up?

Investors were expecting even worse after FedEx (NYSE: FDX) warned that its profit would be lower than expected for the current quarter.

Now what: The results today weren't good but according to analysts they do show signs of stabilizing, which is all investors needed to push shares higher today. I'm still not buying the jump given the fact that shares trade at 18 times trailing earnings and revenue and net income are headed in the wrong direction. If the economy picks up, then supply chain companies may benefit, but I only see this as an incremental positive in the near future, not enough to drive results significantly higher.

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