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 luxury watch-maker the Movado Group (NYSE:MOV) jumped as much as 10% today after issuing a special dividend and raising guidance in its quarterly report.

So what: Like many companies are doing in anticipation of the fiscal cliff, Movado issued a one-time payout of $0.75 to shareholders for Dec. 21, which brings total dividends to $1.45 for the year. As for the earnings report, Movado, which also sells watches under other luxury brands, including Lacoste and Hugo Boss, posted a 12% increase in sales and a 46% gain in adjusted operating income. CEO Rick Cote touted the company's "strong cash flow generation and sustained positive momentum," and management also boosted fiscal EPS guidance from $1.40 to $1.50 a share.

Now what: Shares have Movado have increased by about 600% since bottoming out during the recession, and the company appears to be fully healthy after suffering through losses during the downturn. Movado has a strong brand and stable growth and is eager to return capital to shareholders. This looks like a solid bet going forward.

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Jeremy Bowman and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.