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.

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

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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 has a disclosure policy.