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 control company Woodward Inc (NASDAQ:WWD) jumped 11% today after management increased its outlook.

So what: Revenue is expected to be at the high end of the $1.95 billion to $2.05 billion range that was previously given. The earnings outlook was also increased from $2.10-$2.30 per share to $2.35-$2.45, above Wall Street's current $2.24 estimate.  

Now what: Management said that order momentum has improved and cost controls are helping profitability. The good news is that momentum is expected to continue into fiscal 2015, which is good because growth slowed this year. I'd like to see further growth in order to justify over a 20 P/E ratio but operationally the company is improving, which bodes well long-term.