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: Clearwire (Nasdaq: CLWR) dropped 12% in intraday trading today on news that Intel (Nasdaq: INTC) plans to sell 10 million shares of Clearwire stock.

So what: Intel revealed in a regulatory filing that it plans to sell 10 million of the 37 million Clearwire shares it owns. This amounts to about 4% of Clearwire's shares outstanding and about 7% of its float.

Now what: Intel makes chips for phones that operate on the WiMax 4G wireless technology currently used by Clearwire. The share sale doesn't affect contractual obligations or business arrangements between the two companies and may reflect nothing more than a periodic portfolio rebalancing at the big chip maker. On the other hand, Intel is known to invest in technologies it wants to promote and the share sale may be due in part to Clearwire's testing of LTE, a more common 4G wireless technology in which Intel lacks a vested interest.

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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.