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 drilling services company Heckmann (NYSE: HEK) jumped 12% today after announcing quarterly earnings.

So what: Revenue grew more than 100% to $113.2 million, topping estimates of $110.1 million. On the bottom line, the company made a profit of $5 million, or $0.03 per share, when Wall Street was expecting a loss of $0.03 per share.  

Now what: The company expects revenue to more than double again this year as high oil prices keep drilling rigs busy. There's been a lot of pricing pressure for Heckmann recently but if demand picks up that should subside somewhat and profits will follow accordingly. The stock is trading at 17 times forward earnings, which may be reasonable if the bottom line improves, but I'd rather buy after seeing a solid profit rather than just project one in a volatile pricing environment.

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