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 Sify Technologies (Nasdaq: SIFY) skyrocketed 10% today after the company announced a new partnership.

So what: Saudi Telecom is partnering with Sify to provide ICT services to the Middle East's largest telecom carrier. With a large footprint in India, this is a natural extension for Sify's growing network of customers.

Now what: The stock jumped as soon as the news came out, but it has settled a little lower, currently trading up 4.3% on the day. This is a positive move, but the company reported a loss last quarter, so I'm waiting to see some profit before getting too excited about a signing like this. If a growing network leads to more growth, this stock will look cheap, but I'm taking a cautious approach for now.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.