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: Silicon Graphics International Corp. (NYSE: SGI) popped 12% in intraday trading today after announcing a contract win.

So what: The Korean Air Force has purchased and begun operating a high-performance computing system from SGI for use in weather forecasting. The deal includes servers, storage, archiving, security and services.

Now what: The services could provide a stable, high-margin recurring revenue stream coveted by hardware providers. In addition, the press release casts a positive light on SGI's capabilities in the high margin HPC (high performance computing) market that could help SGI win more business. The size of the deal was not disclosed, but announcing it suggests it is a material positive for revenue and earnings of this sometimes-profitable company.

Interested in more info on SGI? Add it to your watchlist by clicking here.

Fool contributor Cindy Johnson does not own shares of any company named above. 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.