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 renewable products company Amyris Inc (NASDAQ:AMRS) jumped 11% today after the company reported earnings.

So what: First-quarter revenues dropped 23%, to $6.0 million, and Amyris lost $26.7 million from operations. But a $48.0 million gain on derivatives and debt extinguishment resulted in a $16.4 million profit overall. 

Now what: The better news was that guidance for 2014 was reiterated, and management expects $100-$115 million of inflows from products and collaborations this year. Amyris also resumed production at the Brotas biorefinery, which was an important operational step.

This is still a highly speculative stock and it's difficult to know how to value the company with little revenue or history of returns. With that risk in mind, I'll sit out the move today, and wait for a more stable company to emerge in the future.

Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.