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 data storage specialist Isilon Systems (Nasdaq: ISLN) jumped more than 10% in early trading thanks to a fantastic third-quarter report.

So what: This stock has more than quadrupled over the past year in a flurry of strong business results and takeover speculation. Earnings only kept pace with analyst expectations this time, but Isilon outperformed the average revenue target by more than 16%.

Now what: Storage giant EMC (NYSE: EMC) is said to be in talks to acquire Isilon in order to expand its portfolio of massively scalable storage systems. The company's $1.9 billion market cap after the yearlong run-up makes for a very expensive buyout relative to sales and earnings, but crazier things have happened and could happen again. If nothing else, Isilon is running a tight ship on its own and deserves at least some of this market love.

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

Fool contributor Anders Bylund holds no position in any of the companies discussed here. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community. The Motley Fool is investors writing for investors.