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 industrial services company Team, Inc. (NYSE:TISI) jumped as much as 12% after announcing earnings.

So what: Fiscal second-quarter revenue was flat with a year ago at $200 million, and adjusted earnings per share dropped $0.04, to $0.62. The results were in line with expectations, and full-year revenue guidance of $765 million to $790 million. and earnings per share guidance of $1.55 to $1.85, were reiterated and also are within Wall Street's expectations. 

Now what: The early pop in shares has tapered off somewhat, and shares are up around 7% late in the day. Clearly, investors were expecting even lower figures, and that's why the stock is up. Considering the fact that shares trade at 24 times the top end of estimates, and there was no growth for the quarter, I'd take a cautious approach to the stock today. I'd like to see a further recovery in revenue and earnings moving higher before jumping in at this price.