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 teen apparel retailer Abercrombie & Fitch (NYSE:ANF) soared a whopping 27% today after the company's quarterly results and outlook blew out Wall Street expectations.

So what: Abercrombie has struggled in 2012 as increasing competition weighed on sales, but a wide third-quarter beat -- EPS of $0.87 versus the consensus of $0.59 -- coupled with upbeat guidance for the full year is sparking hopes of a turnaround. While same-store sales fell 3% during the quarter, a 37% sales surge in its international markets suggests that the brand still has plenty of room to grow abroad.

Now what: Management now sees full-year EPS of $2.85-$3.00, well ahead of the Wall Street's estimate of $2.48.

"Our principal focus remains to execute against our key strategic initiatives to leverage our iconic brands and to continue to be judicious in our use of our shareholders' capital to drive long-term shareholder value," said Chairman and CEO Mike Jeffries. Of course, given the industry's fickle nature, I'd be cautious about using one solid earnings report to justify buying into that bull talk.

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

Fool contributor Brian Pacampara has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. 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.