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 industrial mineral company GrafTech International (NYSE:GTI) jumped 14% today after reporting earnings.

So what: In the third quarter, revenue fell 7% to $321 million but was still $20 million ahead of estimate. Net income fell 26% to $29.6 million, or $0.22 per share, but was still ahead of the $0.18 per share analysts expected.  

Now what: This is really a case of results being "less bad" than any sort of improvement for the company. Management still sees a tough macro economy and cut the top end of its 2012 EBITDA guidance to $245 million from $255 million as a result. I'm not buying into these poor numbers even if they were better than analysts expected.

Interested in more info on GrafTech International? Add it to your watchlist by clicking here.

Fool contributor Travis Hoium has no positions in the stocks mentioned above. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw

The Motley Fool owns shares of GrafTech International Ltd. 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 Motley Fool has a disclosure policy.