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 Freescale Semiconductor (NYSE:FSL) have popped today by as much as 21% after the company reported earnings with strong guidance.

So what: Revenue in the fourth quarter was $957 million, resulting in an adjusted net loss of $0.15 per share. Both figures handily bet the Street's expectations of $940 million in revenue and an adjusted loss of $0.17 per share. On a GAAP basis, the company's net loss was $0.14 per share.

Now what: Outlook for the current quarter also bested forecasts. Freescale expects net sales to be in the range of $945 million to $985 million, with gross margins expanding 75 basis points to 100 basis points sequentially. The results suggest that conditions in the broader semiconductor market may be improving.

Interested in more info on Freescale Semiconductor? Add it to your watchlist by clicking here.

Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.