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 information management specialist CommVault Systems (Nasdaq: CVLT) jumped as much as 10.7% on more than triple the average daily trading volume.

So what: CommVault doesn't have any news of its own today, nor much of a short-sales position to fuel a squeeze. However, smaller rival Falconstor Software (Nasdaq: FALC) jumped even higher on a terrific earnings report, dragging CommVault along for the ride.

Now what: Both FalconStor and CommVault have seen takeover chatter in the rumor mill recently, and the storage industry has been consolidating for a couple of years. There's no real news here, but at least the chatter has a credible ring to it.

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

Fool contributor Anders Bylund holds no position in any of the companies discussed here. 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.