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 yellow pages publisher SuperMedia (Nasdaq: SPMD) are flying more than 15% above last night's closing price today.

So what: This is another innocent bystander caught in the halo effect of Google considering buying local advertising specialist Groupon for as much as $6 billion. SuperMedia's yellow pages may not seem like a good fit for the anticipated buyout wave this move could spark, but the company is doing plenty of business online these days.

Now what: Just a week ago, SuperMedia fell 9% on Monday and then 8% on Tuesday. The stock is down 94% year to date. This week's spikes are not much comfort for existing investors, and any deal for this company would probably be a highly opportunistic, low-priced affair.

Interested in more info on SuperMedia? Add it to your watchlist.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. Google is a Motley Fool Inside Value pick. Google is a Motley Fool Rule Breakers choice. The Fool owns shares of Google. 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 is investors writing for investors.