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 PolyOne (NYSE:POL) jumped 10% today after the company reported earnings.

So what: First quarter revenue was up 7.5% to $801.1 million and adjusted earnings per share rose 29% to $0.31. Analysts expected higher revenue of $817.1 million but only $0.26 in earnings per share so the bottom line is what investors are excited about today.  

Now what: The specialty business drove earnings on a 34.4 increase in operating income. There is clearly a lot of momentum in the business because this is the 14th consecutive quarter of double-digit, adjusted-earnings-per-share growth. The stock trades at just 14 times forward estimates, which is an attractive price considering the continued growth and I think shares can move higher long term.

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