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 communications chip designer NXP Semiconductors (Nasdaq: NXPI) jumped sky-high in early action today, reaching as high as 10.7% above Wednesday's closing prices before falling back to more modest gains.

So what: There is no fresh news specific to NXP that would support this move, much like there was no particular reason for a similar jump yesterday. The stock is a relatively fresh-faced market player, and many investors don't know much about it. The mere fact that it keeps showing up on largest-gains lists these days may be enough to feed further gains.

Now what: The former semiconductor division of Royal Philips Electronics (NYSE: PHG) is a hot topic, not only because of its stock-market moves, but also because it specializes in near field communications (NFC). Supported by new products and roadmap promises from global giants including Nokia (NYSE: NOK) and Google (Nasdaq: GOOG), NFC could be the technology that starts replacing credit cards and enriches our mobile lives in new ways, starting in 2011. NXP clearly has a promising market in its hand -- just watch out for irrational exuberance about the stock, and new competition in the NFC space from established chip giants.

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