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 GPS manufacturer Trimble Navigation (NASDAQ:TRMB) popped 14% today after its quarterly results and outlook topped Wall Street expectations.

So what: The stock has been volatile through the past year on uncertainty over Trimble's growth trajectory, but today's third-quarter results -- adjusted earnings per share jumped 17% on a 10% revenue increase -- coupled with upbeat guidance suggest that demand is indeed picking up. Year-over-year gross margins even increased 90 basis points to 53%, giving analysts plenty of good vibes over Trimble's competitive positioning as well.

Now what: Management now sees fourth-quarter adjusted EPS of $0.35-$0.39 on revenue of $560 million-$580 million, versus Wall Street's view of $0.35 and $564 million. "Although the worldwide economic environment is expected to remain challenging into 2014 and a constraint to robust growth, we did see encouraging signs in the quarter, particularly in survey instruments, building construction and agriculture," said CEO Steven Berglund. "These indicators support our view that our organic growth will step up in 2014 from the levels we have seen in 2013." Of course, with Trimble shares surging to yet another 52-week high today and sporting a 40-plus P/E, much of that optimism might already be baked into the valuation.