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 IP risk manager RPX(NASDAQ:RPXC) jumped 21% today after the company reported earnings.

So what: Revenue was up 22% in the fourth quarter to $51.6 million and net income was $10.1 million, or $0.19 per share. Non-GAAP net income, which pulls out one-time items, was $0.24 per pro forma diluted share, which was more than the $0.19 per share analysts expected.

Now what: The earnings beat has investors excited today and the company is expecting profit to continue to roll in next year. Management expects revenue for 2013 to be between $223 million and $235 million and net income to be between $47 million and $52 million. Both ranges were ahead of current estimates. I think the earnings momentum will continue to push shares higher, although I'd like to get a better price than today's pop.

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