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 SunEdison (NYSE: SUNE) jumped 15% today after the company announced a spin-off.

So what: The company will spin off its semiconductor business to focus on its solar business. SunEdison Semiconductor will sell shares through an IPO and SunEdison will keep a minority stake in the new company.  

Now what: In theory, this will allow the separate companies to be more focused on their own strategies and balance sheets instead of those of the combined business, which sells to many different markets. It will also create a solar-focused company, which is attractive for investors looking for solar exposure without the semiconductor business. I think this is a solid move for SunEdison but would like to see terms of the IPO before getting too excited.

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Fool contributor Travis Hoium 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.