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 alternative fuel maker Solazyme (NASDAQ:TVIA) jumped as much as 22.7% today, after reporting earnings.

So what: Solazyme only reported $8.6 million in revenue, which was just short of estimates, and a loss of $0.37 per share, but it was excitement about the future that had investors buying today. The company announced the signing of a joint venture framework agreement with Bunge that plans to produce 300,000 MT annually by 2016. It also signed a strategic collaboration agreement to manufacture and market tailored algal oils with Archer-Daniels-Midland (NYSE:ADM).

Now what: These kinds of agreements are certainly a step forward, but let's keep in mind that revenue was actually down in the quarter, and the company's losses are only growing. Buying Solazyme now is a bet that these oils and fuels will be a financial success, which we have little evidence of right now. I'm not buying into this stock until I see strong, consistent profits, so I'm definitely not a buyer today.

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