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 office and industrial REIT Duke Realty (NYSE: DRE) shot up as much as 10% in intraday trading on heavier-than-average volume.

So what: After yesterday's close, Duke announced positive fourth-quarter and full-year results. The company registered $0.28 in funds from operations during the quarter, a penny better than what Wall Street analysts were looking for. Duke also said that its portfolio occupancy rate was 89.1% at the end of the quarter, the highest level since 2004. Shares may also be getting a boost today from the market's excitement over the potential merger between ProLogis and AMB Property Corp.

Now what: The recession was clearly a challenging period for Duke Realty as lower income and big write-downs led to a hefty loss in 2009 and a very tepid 2010. The hope is that as the economy recovers, the markets that it plays in will continue to firm up, and that will lead to a healthier-looking bottom line in 2011 and beyond.

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