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 real estate services company Jones Lang LaSalle (NYSE: JLL) soared in early trading, gaining as much as 11% in intraday trading before giving much of it back.

So what: The third quarter looked strong for JLL, though that's what most investors seemed to be expecting after the bullish report from chief competitor CBRE Group (NYSE: CBG) last week.

Revenue for the quarter was up 28% from last year to $903 million, well ahead of $857 million that analysts were expecting. On the bottom line, the company reported $1.12 in earnings per share, a 30% gain from 2010 and also better than the $1.08 that Wall Street was looking for. Though the economic volatility is an issue for the company, it noted market share gains during the quarter and said that it sees "a positive finish for 2011 in the firm's seasonally strong fourth quarter."

Now what: Considering JLL's strong results, the rallying market around it, and the fact that the stock gave back almost all of its pop from last week, I'm a little confused why investors lost their excitement as the day wore on. At market close, JLL's stock was up just 2.6% for the day.

As it stands now, I see JLL's stock as pretty fairly priced. But while it's not a particular bargain, buying a quality company at a fair price can often lead to solid returns.

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