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 Motley Fool Stock Advisor selection Netflix (Nasdaq: NFLX) soared 13% in intraday trading today, putting the stock within spitting distance of its 52-week high of $174.40, after the company reported strong revenue and earnings and announced plans to expand globally.

So what: Netflix earned $0.70 a share on $553.2 million in third-quarter revenue. Analysts had expected $0.72 on $550.9 million in revenue. The company also added 1.9 million new subscribers, more than triple last year's additions.

Now what: On a call with analysts, CEO Reed Hastings said his company is investing heavily to expand internationally and take advantage of a digital streaming opportunity that will arise "five or 10 years from now." Basically, he's trying to win a race against Apple (Nasdaq: AAPL), (Nasdaq: AMZN), and perhaps even Google (Nasdaq: GOOG). Netflix's commitment is reflected in the cash flow statement, where cash from operations fell 29.9% on higher streaming investments. But even with higher expenditures, Netflix still managed to produce a very healthy $4.9 million in quarterly free cash flow. This is why my Foolish colleague Anders Bylund calls the stock a buy.

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