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 Tellabs (Nasdaq: TLAB), a specialist maker of communications equipment, closed up more than 10% on cost cutting news and better-than-expected financial results.

So what: Management announced a plan to cut 330 jobs and reduce corporate expenses by some $50 million, yet that may not be enough. Revenue fell by roughly $88 million, or 21%, year over year. The company’s $0.02 adjusted net loss beat expectations by a penny.

Now what: I can't see how that matters. Tellabs has burned through more than $53 million in cash from operations during first six months of the year, reversing what had been a generally reliable trend. Expect more cost cuts, Fool. Soon. Do you agree? Disagree? Let us know using the comments box below.

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Fool contributorTim Beyers is a member of theMotley Fool Rule Breakers stock-picking team. He didn’t own shares in any of the companies mentioned in this article at the time of publication. Check out Tim'sportfolio holdings andFoolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insightsdelivered directly to your RSS reader.

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