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 Nuverra Environmental Solutions (NASDAQOTH:NESC) jumped as much as 16.7% today after the company reported earnings. The stock settled back to a 9.7% rise in late trading.

So what: First-quarter revenue fell 2% year over year to $128 million and net loss fell slightly to $11.5 million, or $0.46 per share. The results were actually below Wall Street estimates, but management sees growth in the second half of the year and that was enough to push shares higher.  

Now what: Overall drilling levels are expected to pick up throughout 2014 and to be strong in the second half of the year. That doesn't necessarily mean that Nuverra, a provider of environmental solutions for the energy and industrial sectors, will make money -- estimates still have the company posting an $0.85 per share loss this year. That will keep me out of the stock, despite the company's growth prospects.

Travis Hoium has no position in any stocks mentioned. The Motley Fool owns shares of Nuverra Environmental Solutions. 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.