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 CARBO Ceramics (NYSE:CRR) got back on track today, jumping 14% after releasing earnings.

So what: Revenue dropped 13.5% from a year ago to $153.7 million, but came in well ahead of the $142.2 million estimate. Earnings of $0.71 per share were also $0.05 ahead of estimates, so investors cheered a much needed good quarter.  

Now what: Demand picked up in the quarter and so did margins, which may mean that the company's education campaign could be paying off. Management has been on a mission to display the advantages of CARBO's proppants versus lower quality Chinese products, and it's seeing fruits of that labor. The market is still challenging but, if the company can get back to growth, then its current P/E ratio of 20 won't look so expensive.