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 generator manufacturer Generac Holdings (NYSE: GNRC) popped 10% today after its third-quarter and full-year outlook easily topped Wall Street estimates.

So what: Generac's shares have slumped a bit in 2012, but today's positive quarterly outlook -- management expects third-quarter adjusted EPS of $0.72-$0.77 versus the consensus of just $0.47 -- coupled with upbeat guidance for the full year reignites hopes for a turnaround. Management said that major power outages of late have led to robust demand for its home stand-by and portable generators, giving Mr. Market plenty of good vibes over Generac's short-term revenue picture.

Now what: Management now sees full-year adjusted EPS of $2.65-$2.70 -- well ahead of Wall Street's estimate of $2.30 -- and expects to raise its longer-term outlook, as well. "We are currently resetting our goals for the next three years and we intend to share those updated growth rates in the near future when we finalize our long-term strategic plan," President and CEO Aaron Jagdfeld said. With the stock still off about 20% from its 52-week high and trading at PEG ratio under 1, that growth might even be available on the cheap.

Interested in more info on Generac? Add it to your watchlist.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Fool's disclosure policy always gets a perfect score.