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 Advanced Emissions Solutions, (NASDAQ: ADES) jumped 17% today after reporting earnings.

So what: Revenue rose slightly in the quarter, to $74.6 million, and the company swung to a profit of $1.6 million, or $0.16 per share in the quarter. Earnings beat estimates by $0.02, and revenue was also better than expected. 

Now what: Revenue in emission control more than tripled, offsetting a decline in refined coal. Advanced Emission Solutions is benefiting from regulatory requirements that help its business long term, and that's driving optimism from investors. I'm still leery about optimistic estimates for next year, which have the company swinging to a $3.79 per share profit. For now, I'll take the cautious approach and watch for improvement from the sidelines.