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 TRI Pointe Homes Inc (NYSE:TPH) were looking stronger today, up 10% after turning in a better-than-expected earnings report.

So what: The homebuilder flew past EPS estimates of $0.09 with a profit of $0.15 per share, while revenues jumped 480.2% to $58.6 million, much better than the consensus at $47.8 million. TRI Pointe also benefited from a 57% jump in average home prices to $624,000, and orders for new homes also nearly doubled to 135. The young company, founded in 2009, lifted its full-year guidance to $0.46-$0.48, from $0.40-$0.42, further encouraging the market.

Now what: Last week, TRI Pointe agreed to buy Weyerhauser's (NYSE:WY) homebuilding unit for $2.7 billion, which will make it one of the country's 10 largest homebuilders. And while investors may not be able to expect triple-digit revenue growth every quarter, the Weyerhauser deal gives TRI Pointe considerable room to run. With the housing market still looking up, that should be a boon for TRI Pointe shareholders. I'd expect the stock to keep moving higher.