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 building materials company Headwaters Inc. (NYSE:HW) jumped 20% today after releasing earnings.

So what: Fiscal-first-quarter revenue was up 10.7% from a year ago to $165.6 million, well ahead of the $159.6 million estimate from Wall Street. The bigger surprise was a $0.05 per share profit, versus the expected $0.02 loss expected by analysts.  

Now what: Building product demand was strong with revenue up 21% from a year ago. The trend looks to continue with management upping fiscal 2014 EBITDA guidance to $130 million-$145 million from $125 million-$140 million. Keep an eye on the bottom line this year because Headwaters is just now swinging back to profitability and if these trends continue it could be a great value for investors.

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