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 Corporate Executive Board (NYSE:CEB) jumped as much as 11% today after the company released earnings.

So what: Revenue jumped 48%, to $190.3 million, and net income was $11.2 million, or $0.33 per share. On an adjusted basis, earnings per share were $0.67, which was $0.03 ahead of estimates. 

Now what: Management reaffirmed adjusted revenue guidance of $825 million to $845 million, which was a positive, because first-quarter revenue was a bit lighter than expected. Non-GAAP earnings are expected to be between $2.85 and $3.15, which is in line with the $3.01 from Wall Street. I'm not seeing anything terribly outstanding in the guidance, which is why I'm not buying today, because I think the stock's not a great value at 20 times 2013 earnings.

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