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 natural gas fuel maker Clean Energy Fuels (NASDAQ:CLNE) rose as much as 10% today after reporting earnings.

So what: Revenue rose 27% in the quarter to $91.5 million, well ahead of the $74.5 million bar set by analysts. The company lost $16.3 million, or $0.19 per share, but this was in line with expectations.

Now what: Clean Energy Fuels continues to make steady progress in expanding its business, as the 24% increase of gallons delivered shows. Management is pointing to the first half of next year as an inflection point when infrastructure for fueling and technology for trucks meets, and a compelling value proposition can be made for heavy-duty trucking. I'd take a wait-and-see approach given the loss, but this is an intriguing company going forward.

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