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 Spirit AeroSystems (NYSE:SPR) jumped 10% today after the company reported better than expected earnings.

So what: Third-quarter revenue rose 10% to $1.5 billion and the company swung to a profit of $93.7 million, or $0.65 per share, from a loss a year ago. Analysts were only expecting earnings of $0.60 per share.  

Backlog also rose to $38 billion from $34 billion a year ago.

Now what: Spirit AeroSystems is trying to sell a facility in Oklahoma; management said it's narrowed potential buyers but that the sale process will extend into next year. All in all, the report was a positive step for Spirit, which has a tremendous opportunity in a growing commercial aircraft market and now appears to have costs under control. I think the stock has a long way to run, especially when you consider the company's massive backlog.