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 energy explorer Triangle Petroleum Corporation (NYSEMKT:TPLM) fell as much as 10% in trading today after the company reported earnings.

So what: Revenues jumped 315.7% to $88.6 million, easily topping estimates of $72.0 million. The problem is that earnings of $0.18 per share fell six cents short of estimates and considering the revenue beat it means that margins are far lower than expected.  

Now what: Triangle Petroleum is in a major expansion mode so I would be less worried about short-term profits and focus on revenue growth. That's why the 47% sequential improvement in revenue was so impressive. Given the revenue growth and swing to profitability I think the stock is a reasonable value and I definitely don't see the bottom line miss as a reason to jump ship today.