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 NQ Mobile (NYSE:NQ) touched a fresh 52-week-high after skyrocketing more than 21% during intraday trading Tuesday after the Chinese mobile Internet services provider reported second-quarter earnings.

So what: Quarterly net revenue more than doubled year over year to $41.4 million, while non-GAAP earnings rose 86% over the same period to $0.26 per share. For reference, analysts were only expecting adjusted earnings of $0.17 per share on $39.3 million in sales. NQ Mobile's average monthly active user accounts also rose more than 10% sequentially to 122.2 million during the quarter.

Now what: Some investors had wondered whether NQ Mobile could continue its winning streak, especially considering the stock had recently risen 14 trading days in a row going into last Thursday's trading.

Going forward, though, the company also stated it expects net revenue next quarter to be in the range of $50 million to $51 million, so it felt comfortable raising its full-year 2013 revenue guidance to $185 million to $188 million, up from the previously expected range of $179 million to $184 million. Now that NQ mobile has just beat Wall Street's already-lofty expectations, I wouldn't be surprised to see the stock continue its meteoric rise, at least over the short term.