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 information management specialist CommVault Systems (Nasdaq: CVLT) jumped as much as 10.7% on more than triple the average daily trading volume.

So what: CommVault doesn't have any news of its own today, nor much of a short-sales position to fuel a squeeze. However, smaller rival Falconstor Software (Nasdaq: FALC) jumped even higher on a terrific earnings report, dragging CommVault along for the ride.

Now what: Both FalconStor and CommVault have seen takeover chatter in the rumor mill recently, and the storage industry has been consolidating for a couple of years. There's no real news here, but at least the chatter has a credible ring to it.

Interested in more info on CommVault Systems? Add it to your watchlist.