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 specialty rice processor Amira Nature Foods (NYSE: ANFI) surged 18% today after its quarterly results and outlook impressed Wall Street.

So what: The stock has pulled back sharply in recent months on red flags surrounding its financials, but Amira's fourth-quarter results -- adjusted earnings per share of $0.47 on revenue of $186.6 million versus the consensus of $0.33 and $162.2 million -- coupled with solid guidance are quickly restoring some investor confidence. In fact, adjusted operating margin increased by more than 100 basis points from the year-ago period to 14.1%, suggesting that Amira's operating efficiencies and competitive position are improving as well.

Now what: Management said it expects 2015 revenue and adjusted EBITDA to jump by more than 20% and maintained its long-term revenue outlook for $1 billion. "We are focused on a dramatically increasing class of consumers in our home market, while also exploiting new opportunities around the world to further grow our business," said Chairman and CEO Karan Chanana in a press release. "To bolster our growth in India we established eight company owned and managed distribution centers in key cities around the country and plan to add seven more distribution centers by the end of the fiscal 2015 to further support our success in India." When you couple today's big rally with the serious concerns that still surround Amira, however, I'd continue to watch things play out from the sidelines.